WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Cyan, Inc. (NYSE: CYNI)?
- Did you purchase any of your shares prior to May 4, 2015?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Cyan, Inc. (“Cyan” or the “Company”) (NYSE: CYNI) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Ciena Corporation (“Ciena”) (NYSE: CIEN), in a transaction valued at approximately $400 million.
Click here to learn more: http://rigrodskylong.com/investigations/cyan-inc-cyni.
Under the terms of the agreement, shareholders of Cyan will receive consideration equal to the value 0.224 shares of Ciena common stock for each share of Cyan common stock owned. This exchange ratio represents approximately $4.75 per share of Cyan common stock, based on Ciena’s 20-day volume weighted average price as of May 1, 2015.
The investigation concerns whether Cyan’s board of directors failed to adequately shop the Company and obtain the best possible value for Cyan’s shareholders before entering into an agreement with Ciena.
If you own the common stock of Cyan and purchased your shares before May 4, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/cyan-inc-cyni.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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