NEW YORK, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against MINDBODY, Inc. (“MINDBODY” or the “Company”) (NASDAQ: MB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MINDBODY securities between November 7, 2018 and February 15, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/mb.  

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, defendants 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.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/mb  or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in MINDBODY you have until November 4, 2019 to request that the Court appoint you as lead plaintiff.  A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com