STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that it is investigating potential legal claims against the board of directors of Ruckus Wireless, Inc. (“Ruckus” or the “Company”) (NYSE: RKUS) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Brocade Communications Systems, Inc., in a transaction valued at approximately $1.5 billion.
Under the terms of the agreement, shareholders of Ruckus common stock will receive 0.75 shares of Brocade common stock and $6.45 in cash for each share of Ruckus common stock held. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to 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. According to Yahoo! Finance, at least one analyst has issued a price target for Ruckus stock at $15.00 per share.
If you currently own the Company’s common stock and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.