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Andrews & Springer Investigating Nimble Storage

Seeking more cash for shareholders

Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the board of directors of Nimble Storage, Inc. relating to the sale of the company to Hewlett Packard Enterprise Development LP.

On March 7, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which Hewlett Packard will acquire Nimble Storage in a merger worth $200 million. As a result of the merger, Nimble Storage shareholders are only anticipated to receive $12.50 per share in cash in exchange for each share of Nimble Storage.

Andrews & Springer’s investigation so far has revealed that the consideration Nimble Storage shareholders are expected to receive is inadequate. While the company claims that shareholders will receive a premium for their shares, the merger price is 12% less than the $14.00 per share price target set by Maxim Group just two months prior to the announcement of the merger. The consideration is also less than the $14.00 per share price target set by Summit Redstone Partners on November 23, 2016. Firm’s investigation has also discovered that the process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair.

Read also:
Brower Piven Commences Investigation Into Proposed Sale Of Nimble Storage …
For possible breaches of fiduciary duty and other violations of state law
2017.03.15 | Press Release
… As Well as Juan Monteverde
Failing to conduct fair process
2017.03.15 | Press Release
New Investigators Into Nimble Storage: Harwood Feffer …
Concerning acquisition by HPE
2017.03.09 | Press Release
… And Former Attorney General of Louisiana and Kahn Swick & Foti
Adequacy of price and process in proposed sale of Nimble Storage
2017.03.09 | Press Release
Brodsky & Smith Investigates On Nimble Acquisition by HPE …
Vs. board of directors
2017.03.08 | Press Release
… As Well as Levi & Korsinsky …
Concerning fairness of sale for $12.50 per share
2017.03.08 | Press Release
… And Rigrodsky & Long
Regarding possible breaches of fiduciary duties
2017.03.08 | Press Release

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