… And Willie Briscoe and Powers Taylor
Buyout of Fusion-io may be unfair to shareholders.
This is a Press Release edited by StorageNewsletter.com on June 18, 2014 at 2:50 pmFormer United States SEC attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the board of directors of Fusion-io, Inc. concerning the buyout by SanDisk Corp.
Under the terms of the agreement, which is valued at approximately $1.1 billion, Fusion shareholders will only receive $11.25 in cash for each share owned, well below the 52-week high of $15.59 and at least one analyst’s estimated value of $16 per share.
“We are investigating whether the current buyout is fair to Fusion shareholders and whether the price offered is enough to compensate shareholders for the true inherent value of their stock. Our investigation also centers on whether Fusion’s board of directors employed an adequate process to review and act on the proposed transaction,” said shareholder rights attorney Patrick Powers.
Notably, at least one analyst with Yahoo! Finance believes the true inherent value of Fusion stock could be as high as $16 per share.
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