Travelocity.com Inc. Reports Filing of Stockholder Class Actions Lawsuits

Travelocity.com Inc. (“Travelocity”) said today that 11 lawsuits styled as stockholder class actions had been filed in response to the recent announcement by Sabre Inc. (“Sabre”) that it intends to initiate a tender offer for the stock of Travelocity.

On February 19, Sabre announced its intention to initiate, on or soon after March 5, a cash tender offer to purchase for $23 per share the approximately 30 percent stake in Travelocity that Sabre does not already own. The various stockholder lawsuits seek, among other things, to enjoin the prospective tender offer on the grounds that the price offered by Sabre is inadequate.


As reported on February 19, 2002 the Travelocity Board of Directors has formed a special committee comprised of independent and outside directors to review and evaluate the Sabre proposal.

 


www.travelocity.com

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