WILMINGTON, Del., June 16, 2014 /PRNewswire/ -- 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 Fusion-IO, Inc. ("Fusion-IO" or the "Company") (NYSE:
FIO) relating to the sale of the Company to SanDisk Corporation
("SanDisk") (NASDAQ: SNDK). On June 16,
2014, the two companies announced the signing of a
definitive merger agreement pursuant to which SanDisk will acquire
Fusion-IO in a merger via a tender offer in a deal worth roughly
$1.1 billion. As a result of the
merger, Fusion-IO shareholders are only anticipated to receive
$11.25 per share in cash in exchange
for each share of Fusion-IO they own.
Our investigation so far has revealed that the consideration
Fusion-IO shareholders are expected to receive is inadequate.
Fusion-IO recently traded as high as $11.92 as of March 20,
2014. Also, analysts at Yahoo! Finance have set a
$16.00 per share price target for
Fusion-IO, which is approximately 42% more than what Fusion-IO
shareholders are expected to receive.
Andrews & Springer is investigating whether Fusion-IO
directors are breaching their fiduciary duties by failing to
adequately shop the company and maximize shareholder value.
If you own shares of Fusion-IO and want to receive additional
information and protect your investments free of charge, please
visit us at
http://www.andrewsspringer.com/cases-investigations/fusion or
contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
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SOURCE Andrews & Springer LLC