FUSION-IO SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Fusion-IO, Inc. (FIO) Over the Proposed Sale of the Company to SanDisk Corporation (SNDK)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Fusion-IO, Inc. (“Fusion-IO” or the “Company”) (FIO) for potential breaches of fiduciary duties in connection with the sale of the Company to SanDisk Corporation (SNDK) for approximately $1.1 billion. The Company’s stockholders will only receive $11.25 for each share of Fusion-IO common stock they own. However, at least one analyst has set a price target of $16.00 for shares of the Company, and the Company’s shares were trading as high as $15.59 over the past year.
The investigation focuses on whether Fusion-IO’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Fusion-IO’s shareholders.
If you own common stock in Fusion-IO and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.