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Stock Market & Financial Investment News

News Breaks
June 19, 2014
16:03 EDTWBMD, EVDYWebMD commences litigation against Everyday Health
WebMD Health (WBMD) announced that its subsidiary, WebMD, has commenced litigation against Everyday Health Media, a subsidiary of Everyday Health (EVDY), for trademark infringement, false advertising and unfair competition. WebMD's complaint, filed in the United States District Court for the Southern District of New York, shows that Everyday Health is using the WebMD trademark on Everyday Health's web pages; in Everyday Health website addresses; and in search advertising campaigns to deceive and mislead consumers into believing they are visiting WebMD's trusted health and wellness resources. WebMD believes that these practices also mislead advertisers whose ads are placed by Everyday Health on areas of its website that infringe WebMD's brands. These activities infringe on WebMD's trademarks and go well beyond the legally permissible practice of simply buying search terms against a competitor's name. WebMD is seeking a permanent injunction barring Everyday Health from engaging in such illegal acts, damages for the harm to WebMD's business and reputation, an accounting of the profits Everyday Health secured for itself from its wrongful conduct, and the attorneys' fees and costs incurred by WebMD in enforcing these laws against Everyday Health's willful misconduct.
News For WBMD;EVDY From The Last 14 Days
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September 10, 2014
07:04 EDTWBMDWebMD announces preliminary results of tender offer
WebMD Health announced the preliminary results of its tender offer to purchase up to 2,000,000 shares of its common stock at a price of $48.50 per share, which expired at 5:00 p.m., New York City time, on September 9. Based on the preliminary count by American Stock Transfer & Trust Company, the Depositary for the tender offer, approximately 6.3 million shares of common stock were properly tendered and not withdrawn, including: approximately 1.3 million shares that were tendered through notice of guaranteed delivery; and approximately 1.1 million shares that were conditionally tendered by stockholders and for which the determination whether the applicable conditions were met will be made following the verification process described below. Accordingly, WebMD expects to accept for purchase a total of 2,000,000 shares at a purchase price of $48.50 per share, for an aggregate purchase price of $97M. Since the offer was oversubscribed, the number of shares that WebMD will purchase from each tendering shareholder will be pro-rated. Based upon the preliminary count and including all shares conditionally tendered, WebMD estimates that the pro-ration factor would be approximately 31.5%.
September 9, 2014
08:34 EDTWBMDWebMD to benefit from Apple initiatives, says RBC Capital
RBC Capital expects WebMD (WBMD) to benefit from Apple's (AAPL) launch of initiatives in the consumer health IT market. The firm believes that Apple's efforts in this area will provide more publicity for WebMD. RBC Capital keeps a $70 price target and Top Pick rating on WebMD.

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