SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of 58.com Inc. (NYSE – WUBA)

BALA CYNWYD – June 15, 2020 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of 58.com Inc. (“58.com” or the “Company”) (NYSE – WUBA) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to merge with a buyer group that includes 58.com founder Jinbo Yao. Under the terms of the agreement, 58.com shareholders will receive only $56.00 for each share of 58.com they own.

The investigation concerns whether the 58.com Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether the buyer group is underpaying for the Company. For example, the deal price is well below the Company’s 52-week high of $69.89 per share.

If you own shares of 58.com 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, 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.