BALA CYNWYD, PA / ACCESSWIRE / July 28, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of On Deck Capital, Inc. ("OnDeck" or the "Company") (NYSE:ONDK) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Enova International ("Enova") (NYSE:ENVA). Under the terms of the agreement, OnDeck shareholders will receive only $0.12 cents per share in cash and 0.092 shares of Enova common stock for each share of OnDeck held, valuing the deal at $1.38 per share based on Enova's closing price on July 27, 2020.
The investigation concerns whether the OnDeck Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Enova is underpaying for the Company. For example, the deal price is well off OnDeck's 52-week high of $4.71 a share.
If you own shares of OnDeck stock and wish to discuss the legal ramifications of the investigation, 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 Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, visit http://www.brodskysmith.com/cases/deck-capital-inc-nyse-ondk/, or call toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC