Faruqi & Faruqi, LLP Announces Investigation of MediaMind Technologies, Inc.

NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of MediaMind Technologies, Inc. (“MediaMind” or the “Company”) (NasdaqGS: MDMD) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to DG FastChannel, Inc. (NasdaqGS: DGIT) in a deal valued at about $418.5 million. The proposed transaction offers MediaMind shareholders $22.00 in cash for each share they own. According to Yahoo! Finance, at least one financial analyst values the Company’s stock at $23.00. Furthermore, on May 11, 2011, MediaMind reported that during the first quarter of 2011, the Company’s revenue and non-GAAP EPS exceeded analyst expectations. The revenue was up 18% from the same quarter a year prior. The deal is structured as a tender offer, which could avoid the need for a shareholder vote, and is expected to be completed in the third quarter of 2011.