Newman Ferrara LLP Announces Investigation of Fusion-io, Inc.

NEW YORK--()--Newman Ferrara LLP is investigating potential claims against the Board of Directors of Fusion-io, Inc. (“Fusion-io”) (NYSE: FIO) concerning the proposed sale of Fusion-io to SanDisk Corporation (NASDAQ: SNDK).

On June 16, 2014, Fusion-io entered into an agreement to be acquired by SanDisk pursuant to which, Fusion-io’s stockholders will receive only $11.25 in cash for each share of Fusion-io stock owned. However, Fusion-io common stock has traded at above the $11.25 per share offer price as recently as March 26, 2014, when it traded at $11.49 per share. The offer price is also well below the 52-week trading high of Fusion-io common stock of $15.59 per share.

According to Summit Research analyst Srini Sundararajan, “I think SanDisk got a steal with this deal.” Susquehanna Financial Group analyst Mehdi Hosseini also remarked that, “What they are paying for FIO appears to be a bargain.”

Fusion-io’s Board of Directors has unanimously approved the proposed sale which is expected to close by the end of September 2014.

Newman Ferrara LLP’s investigation concerns whether Fusion-io’s Board of Directors has breached its fiduciary duties to act in the best interests of Fusion-io’s stockholders and to take all necessary steps to ensure that Fusion-io’s stockholders receive the maximum value readily available for their shares of Fusion-io common stock.

Concerned investors may contact Newman Ferrara attorney Roy Shimon at rshimon@nfllp.com to discuss this investigation, their rights, or potential remedies.

Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.

Contacts

Newman Ferrara LLP
Roy Shimon, 212-619-5400
rshimon@nfllp.com

Release Summary

Newman Ferrara LLP Announces Investigation of Fusion-io, Inc.

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Contacts

Newman Ferrara LLP
Roy Shimon, 212-619-5400
rshimon@nfllp.com