The Shareholders Foundation announced that an investor who currently holds shares of Lifelock Inc (NYSE:LOCK), filed a lawsuit in effort to halt the proposed takeover of Lifelock Inc by Symantec Corp for $24.00 per share.
Investors who purchased shares of Lifelock Inc (NYSE:LOCK) and currently hold any of those NYSE:LOCK shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:LOCK stockholders by agreeing to sell Lifelock Inc. too cheaply via an unfair process to Symantec Corp.
On November 20, 2016 — Symantec Corp. (NASDAQ: SYMC) and Lifelock Inc (NYSE:LOCK) announced that they have entered into a definitive agreement for Symantec to acquire LifeLock for $24 per share or $2.3 billion in enterprise value.
However, the plaintiff claims that the proposed consideration NYSE:LOCK shareholders will receive is grossly inadequate and undervalues Lifelock Inc. In addition, the plaintiff alleges that the process is also unfair NYSE:LOCK stockholders.
On January 11, 2017, NYSE:LOCK shares closed at $23.97 per share.
Those who are current investors in NYSE:LOCK shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com