An investigation for investors in NYSE:RKUS shares was announced concerning whether the takeover of Ruckus Wireless Inc. by Brocade is unfair to NYSE:RKUS stockholders.
Investors who purchased shares of Ruckus Wireless Inc (NYSE:RKUS) and currently hold any of those NYSE:RKUS shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Ruckus Wireless Inc breached their fiduciary duties owed to NYSE:RKUS investors in connection with the proposed acquisition.
On April 4, 2016, Brocade (NASDAQ: BRCD) and Ruckus Wireless (NYSE: RKUS) announced that Brocade has entered into an agreement to acquire Ruckus Wireless, Inc. in a cash and stock transaction. Under the terms of the agreement, Ruckus Wireless stockholders will receive $6.45 in cash and 0.75 shares of Brocade common stock for each share of Ruckus common stock. Based on the closing price of Brocade’s stock on April 1, 2016, the transaction values Ruckus Wireless Inc at a price of $14.43 per common share.
However, given that at least one analyst has set the high target price for NYSE:RKUS shares at $15.00 per share, the investigation concerns whether the offer is unfair to NYSE:RKUS stockholders. More specifically, the investigation concerns whether the Ruckus Wireless Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Shares of Ruckus Wireless Inc (NYSE:RKUS) closed on April 19, 2016, at $13.47 per share.
Those who are current investors in NYSE:RKUS shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego