Brodsky & Smith Investigates On Nimble Acquisition by HPE …

The law office of Brodsky & Smith, LLC is investigating potential claims against the board of directors of Nimble Storage, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Hewlett Packard Enterprise Development LP.

Under the terms of the transaction, Nimble Storage shareholders will receive only $12.50 in cash for each share of  stock they own. The investigation concerns whether the board of Nimble Storage breached their fiduciary duties to shareholders and whether Hewlett Packard is underpaying for the company.

The transaction may undervalue the company and would result in a loss for many Nimble Storage shareholders. For example, shares of Nimble Storage stock traded at $30.63 per share on June 5, 2015 and the price being paid by Hewlett Packard is below an analyst price target of $17.00 per share.