GLOBALLY RECOGNIZED ROSEN LAW FIRM: Announces Filing of Securities Class Action Lawsuit Against MINDBODY, Inc. - MB

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Sep 12, 2019, 18:15 ET

NEW YORK, Sept. 12, 2019 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of owners of the Class A Common Stock of MINDBODY, Inc. (NASDAQ: MB) who sold shares between November 7, 2018 through February 15, 2019, inclusive (the "Class Period"). The lawsuit seeks to recover damages for MINDBODY investors under the federal securities laws.

To join the MINDBODY class action, go to https://www.rosenlegal.com/cases-register-1667.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Defendants had put scheme in place to depress the value of MINDBODY stock directly preceding the merger offer by Vista manufactured through the negative guidance issued on November 6, 2018; (2) the "goshop" provision in the merger offer was designed to prevent any superior offers by other potential purchasers; (3) at the behest of Vista, Defendants never released the Company's favorable fourth quarter 2018 results; (4) as a result of the following, the merger consideration was not fair, and any fairness opinions rendered by the independent proxy advisory firms were based off of incomplete information. Thus, MINDBODY shareholders were not paid the fair value of their shares in connection with the merger, and suffered harm as a result of this alleged conduct in violation of the federal securities laws.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 4, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-register-1667.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 34^th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com