NEW YORK, Sept. 20, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Infoblox Inc.
("BLOX" or the "Company") in connection with the proposed
acquisition of the Company by private equity firm Vista Equity
Partners ("Vista"). On September 19,
2016, the Company announced that it had reached a definitive
agreement for Vista to acquire all outstanding shares of BLOX in a
transaction valued at approximately $1.6
billion. Under the terms of the agreement, BLOX
shareholders will receive $26.50 in
cash for each BLOX share they own.
WeissLaw is investigating whether BLOX's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $32.00, or $5.50
above the offer price. Moreover, the Company recently
announced positive financial results. On August 31, 2016, BLOX reported total net revenue
for fiscal 2016 of $358 million,
representing a record 17% year-over-year growth when compared to
the $306 million reported for fiscal
2015.
Given these facts, WeissLaw is investigating whether BLOX's
Board acted in the best interests of BLOX's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own BLOX shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP