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58.COM MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF 58.COM INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM
June 15, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of 58.com Inc. (NYSE: WUBA) to a consortium of investors including Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, their respective affiliated investment entities, Jinbo Yao, Chairman and Chief Executive Officer of 58.com, and Internet Opportunity Fund LP (collectively, the “Consortium”) is fair to 58.com shareholders. On behalf of 58.com shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
The investigation concerns whether 58.com and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for 58.com shareholders; (2) determine whether the Consortium is underpaying for 58.com; and (3) disclose all material information necessary for 58.com shareholders to adequately assess and value the proposed transaction.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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