BALA CYNWYD, Pa., May 21, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Bidz.com, Inc.
("Bidz" or the "Company") (Nasdaq: BIDZ) relating to the proposed
acquisition to be taken private by Glendon Group, Inc.
("Glendon").
Under the terms of the transaction, Bidz shareholders would
receive only $0.78 in cash for each
share of Bidz stock they own. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Bidz for not acting in the Company's
shareholders' best interests in connection with the sale process to
Glendon. The transaction may
result in long term holders of Bidz stock suffering substantial
losses. For example, Bidz stock traded at $1.79 per share on February 14, 2011 and $0.99 on August 3,
2011. In addition, an analyst has set a price target for
Bidz stock at $1.25 per share.
If you own shares of Bidz stock and wish to discuss the legal
ramifications of the proposed transaction, 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 Evan J. Smith,
Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by
e-mail at investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/428-bidz-bidzcom-inc.html, or by calling
toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC