An investor in NASDAQ:SZMK shares filed a lawsuit in effort to halt the proposed takeover of Sizmek Inc by affiliates of private equity firm Vector Capital for $3.90 per share.
Investors who purchased shares of Sizmek Inc (NASDAQ:SZMK) and currently hold any of those NASDAQ:SZMK 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 NASDAQ:SZMK stockholders by agreeing to sell Sizmek Inc too cheaply via an unfair process to affiliates of private equity firm Vector Capital.
On August 03, 2016, Sizmek Inc (announced that it has entered into an agreement with affiliates of private equity firm Vector Capital under which an affiliate of Vector will acquire all of the outstanding shares of Sizmek Inc (NASDAQ:SZMK) common stock for $3.90 per share in an all-cash tender offer.
However, plaintiff claims that the proposed consideration NASDAQ:SZMK shareholders will receive is grossly inadequate and undervalues Sizmek Inc. Indeed, NASDAQW:SZMK shares traded in 2015 as high as $7.90 per share. In addition, the plaintiff alleges that the process is also unfair to NASDAQW:SZMK stockholder.
Shares of Sizmek Inc (NASDAQ:SZMK) closed on September 14, 2016 at $3.87 per share.
Those who are current investors in NASDAQ:SZMK 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