WILMINGTON, Del., March 12, 2010 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Spark Networks, Inc. ("Spark" or the "Company") (NYSE Amex: LOV), concerning possible breaches of fiduciary duty and other violations of law related to the Company's proposed acquisition by Great Hill Equity Partners III, LP ("Great Hill") to acquire the remaining 56% of the Company it does not already own.
Under Great Hill's proposed offer, Spark shareholders will receive $3.10 per share for each share of Spark common stock they own. The transaction appears to be unfair, in part, given that the Company's stock has traded above Great Hill's offering price since the announcement of the transaction and has traded as high as $3.48 as recently as March 9, 2010.
If you own the common stock of Spark and purchased your shares before March 2, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Brian D. Long, Esquire of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts located throughout the United States.
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