FUSION-IO ALERT: Johnson & Weaver Investigating the Proposed Sale of Fusion-io, Inc.
16 June 2014 - 11:09PM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of
Fusion-io, Inc. (NYSE: FIO) breached their fiduciary duties in
connection with the proposed sale of the Company to SanDisk
Corporation.
Additional Information:
Fusion-io, Inc. 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.
If you are a Fusion-io shareholder and are interested in
learning more about the investigation or your legal rights and
remedies, please contact Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If you
email, please include your phone number.
About Johnson & Weaver,
LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California and New York. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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