STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of SanDisk Corp. (NasdaqGS: SNDK) (“SanDisk” or the “Company”) relating to the proposed buyout of the Company by Western Digital Corp., in a transaction valued at approximately $19 billion.
Under the terms of the transaction, SanDisk shareholders are anticipated to receive $67.50 in cash and 0.2387 shares of Western Digital common stock per share of SanDisk common stock if the previously announced investment in Western Digital by Unisplendour Corporation Limited has not occurred, or $85.10 in cash and 0.0176 shares of Western Digital common stock per share of SanDisk common stock if the Unisplendour transaction closes.
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.
If you currently own common stock of SanDisk 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 firstname.lastname@example.org 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.