What are you looking for ?
Infinidat
Articles_top

… Johnson & Weaver …

To verify whether board members of Fusion-io breached their fiduciary duties

Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Fusion-io, Inc. breached their fiduciary duties in connection with the proposed sale of the company to SanDisk Corporation.

Fusion-io develops, markets, and sells storage memory platforms in the United States and internationally.

On June 16, 2014, Fusion-io and SanDisk entered into an agreement whereby SanDisk will acquire Fusion-io. Under the terms of the agreement, SanDisk will commence a tender offer for all outstanding shares of Fusion-io for $11.25 per share in cash.

During the last 52 weeks Fusion-io traded as high as $15.59.

The investigation will determine whether Fusion-io’s directors breached their fiduciary duties to stockholders in connection with the proposed acquisition.

Fusion-io has no long term debt and has over $200 million in cash.

Most Wall Street analysts have a target price greater than the $11.25 proposed purchase price offered by SanDisk.

Articles_bottom
AIC
ATTO
OPEN-E