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Law Office of Brodsky & Smith, LLC Announces Investigation of Online Resources Corporation
Law Office of Brodsky & Smith, LLC Announces Investigation of Online... -- BALA CYNWYD, Pa., Feb. 1, 2013 /PRNewswire/ --
BALA CYNWYD, Pa., Feb. 1, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Online Resources Corporation ("Online Resources" or the "Company") (Nasdaq: [ ORCC ]) relating to the proposed acquisition by ACI Worldwide, Inc ("ACI").
Under the terms of the transaction, Online Resources shareholders will receive only $3.85 in cash for each share of Online Resources stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Online Resources for not acting in the Company's shareholders' best interests in connection with the sale process to ACI. The transaction may undervalue the Company and will result in a loss for many long term Online Resources shareholders. For example Online Resources stock traded at $7.01 on February 11, 2011 and had a reported book value for the most recent quarter of $4.04 per share.
If you own shares of Online Resources stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ] visiting [ http://brodsky-smith.com/537-orcc-online-resources-corporation.html ], by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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