NEW YORK, June 16, 2014 /PRNewswire/ -- Tripp Levy PLLC, a
leading national securities and shareholder rights law firm,
announces that it is investigating the acquisition of Fusion-io,
Inc. (NYSE: FIO) ("Fusion" or the "Company") on behalf of its
shareholders. SanDisk Corporation announced a definitive
agreement to acquire Fusion. Under the terms of the
agreement, SanDisk will commence a tender offer for all outstanding
shares of Fusion for $11.25 per share
in cash.
The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Fusion for not acting in Fusion shareholders' best interests in
connection with the sale process of the Company. The
investigation seeks to determine if there was an adequate auction
process and if SanDisk is underpaying for Fusion shares.
Indeed, analysts have projected that the true going forward
inherent value of the company is worth at least $16 per share. Further, Fusion stock traded
as high as $15.59 per share within
the past year. Moreover, the Company has no long term debt
and has over $225 million of cash on
its balance sheet, representing $2.09
per share in cash.
If you are a shareholder of Fusion and would like additional
information regarding this matter, at no cost or expense, please
contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 1-800-511-7037
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional
investors in shareholder actions and, along with its affiliates,
has recovered billions of dollars for shareholders in securities
actions. Tripp Levy PLLC has become affiliated with Milberg
LLP. Attorney advertising. Prior results do not
indicate a similar outcome
SOURCE Tripp Levy PLLC