Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of CafePress (NASDAQGS: PRSS) to Snapfish, LLC. Under the terms of the transaction, CafePress shareholders will receive $1.48 for each share of CafePress stock they own.
The CafePress merger investigation concerns whether the Board of CafePress breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Snapfish, LLC is underpaying for CafePress shares, thus unlawfully harming Sonic shareholders. Insiders representing approximately a combined 51% of outstanding shares have already agreed to tender their shares.
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