SAN DIEGO--(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.
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 (firstname.lastname@example.org) 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.