MERU NETWORKS ALERT: Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Meru Networks, Inc. & Encourag...
27 Maggio 2015 - 4:18PM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of Meru
Networks, Inc. (NASDAQ: MERU) breached their fiduciary duties in
connection with the proposed sale of the Company to Fortinet,
Inc.
Additional Information:
Meru Networks provides virtualized wireless local area network
(LAN) solutions.
On May 27, 2015, Meru announced it had signed a definitive
merger agreement with Fortinet. Under the terms of the agreement,
Fortinet will pay $1.63 per Meru share in cash.
The investigation concerns whether Meru’s board failed to
satisfy their duties to the Company’s shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock. Meru has over $11
million in cash. One Wall Street analyst has a target price greater
than the proposed purchase price offered by Fortinet. Additionally,
revenue estimates for 2016 are estimated to increase 12.7%. The 52
week high for Meru’s stock is $4.50.
If you are a shareholder of Meru and believe the
proposed buyout price is too low or you’re interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150527006027/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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