NEW YORK, Aug. 8, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Trulia Inc. ("Trulia" or "the Company") (NYSE:TRLA) of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Zillow Inc. (Nasdaq:Z). A complaint was filed in Delaware state court.
Click here to learn more about the investigation: http://zlk.9nl.com/trulia-trla, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Trulia shareholders will receive 0.444 of a Zillow share for each share of Trulia stock they own. The claims concern whether the Trulia Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether they are acting in Trulia shareholders' best interest. In particular, Trulia Board members who collectively hold 7.4% of Trulia's stock have already agreed to tender their shares; and current CEO Pete Flint will remain the company's CEO and will maintain a seat on the Board.
If you own Trulia common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/trulia-trla.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.