Youbet.com, Inc. Board Under Investigation

An analysis on account of accepted in Youbet.com, Inc. (Public, NASDAQ:UBET), who purchased the shares afore November 11, 2009, over abeyant breaches of fiduciary assignment and added violations of accompaniment law in affiliation with an declared arbitrary takeover amount was announced.

Those who are currently investors in shares of Youbet.com, Inc. (NASDAQ:UBET), and purchased the shares afore November 11, 2009, and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554.

The analysis by a law close focus on abeyant breaches of fiduciary assignment and added violations of accompaniment law by the Board of Directors of Youbet.com arising out of their attack to advertise Youbet.com to Churchill Downs Inc. On November 11, 2009 Youbet.com, Inc. (NASDAQ: UBET) (“Youbet”) and Churchill Downs Incorporated (NASDAQ: CHDN) and appear they accept entered into a absolute alliance acceding beneath which Churchill Downs Inc would access all of the outstanding shares of Youbet.com in a transaction admired at about $126.8 actor based on the Tues. Nov. 10, 2009, closing amount of CDI accepted stock. Under the agreement of the transaction, Youbet.com shareholders would accept a anchored arrangement of 0.0598 shares of Churchill Downs Inc accepted banal additional $0.97 in banknote for anniversary allotment of Youbet.com accepted banal they own. Based on the closing amount of Churchill Downs Inc accepted banal on Tues. Nov. 10, 2009, the transaction represents a per-share amount of Youbet.com accepted banal of about $2.84. According to Youbet.com the alliance has been absolutely accustomed by the Board of Directors of both companies and the action represents an adumbrated exceptional of 28% for Youbet.com shareholders over the closing amount of Youbet accepted banal on Tues. Nov. 10, 2009.

But according to an analysis by a law close “the transaction appears to be unfair” to accepted investors of Youbet.com, Inc. (NASDAQ:UBET) because the “offer to acquirement Youbet.com, Inc. (UBET) appears opportunistically timed to crop advantage of the accepted bread-and-butter downturn”. The analysis “concerns whether the Youbet.com Board of Directors aperture their fiduciary duties to Youbet.com, Inc. (UBET) shareholders by accordant to advertise UBET at an arbitrary amount thereby harming Youbet.com, Inc. and its shareholders”, “whether the admiral of Youbet.com, Inc. may accept breached their fiduciary duties by not acting in UBET shareholders' best interests”, and “the Company may not accept abundantly shopped itself about afore entering into this transaction and, pursuant to this proposed transaction, Churchill Downs Inc may be underpaying for Youbet.com, Inc, appropriately unlawfully harming UBET shareholders”. Youbet.com, Inc. shares UBET traded at about $2.70 per allotment afterwards the advertisement and at about $2.45 per allotment during the canicule afore the announcement. YouBet banal was trading at $3.71 a allotment as afresh as August 3, 2009 and was trading at $3.50 a allotment on June 25, 2009. The analysis apropos “whether the Youbet Board of Directors breached their fiduciary duties to Youbet shareholders accustomed that Youbet shares traded as top as $3.91 as afresh as July 24, 2009 and the beggarly amount ambition set by analysts for Youbet banal is $3.88 per allotment with at atomic one analyst ambience a $4.00 amount target.” Youbet.com, Inc., Woodland Hills, California, is a adapted provider of technology and pari-mutuel horse antagonism agreeable for consumers through Internet and blast platforms and a supplier of totalizator systems, terminals and added pari-mutuel wagering casework and systems to the pari-mutuel industry. Youbet.com, Inc. appear in 2007 Total Revenue of $122.49million and in 2008 Total Revenue of $109.03million.