The Shareholders Foundation announced that an investor in NYSE:BLOX shares filed a lawsuit against the proposed takeover of Infoblox Inc by Vista Equity Partners.
Investors who purchased shares of Infoblox Inc (NYSE:BLOX) and currently hold any of those NYSE:BLOX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BLOX stockholders by agreeing to sell Infoblox Inc. too cheaply via an unfair process to Vista Equity Partners.
On September 19, 2016, Infoblox Inc announced that it has entered into an agreement to be acquired by private equity firm Vista Equity Partners. Under the terms of the agreement, Infoblox Inc (NYSE:BLOX) stockholders will receive $26.50 per share of common stock in cash. The transaction values Infoblox at approximately $1.6 billion.
However, plaintiff claims that the proposed consideration NYSE:BLOX shareholders will receive is grossly inadequate and undervalues Infoblox Inc. Indeed, at least on analyst has set the high target price for NYSE:BLOX shares at $32.00 per share. In addition, the plaintiff alleges that the process is also unfair to NYSE:BLOX stockholder
Those who are current investors in NYSE:BLOX shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com