Faruqi & Faruqi, LLP Announces the Investigation of Ruckus Wireless, Inc. (RKUS) Over the Proposed Sale of the Company to Brocade Communications Systems, Inc.
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 Ruckus Wireless, Inc. (“Ruckus” or the “Company”) (NYSE:RKUS) for potential breaches of fiduciary duties in connection with the sale of the Company to Brocade Communications Systems, Inc. (“Brocade”) for approximately $1.5 billion.
The Company’s stockholders will only receive $6.45 in cash and 0.75 shares of Brocade common stock for each share of Company common stock they own. Based on the closing price on April 7, 2016, the transaction values Ruckus at a price of $13.87 per share. However, this consideration is below at least one analyst’s price target of $15.00 per share.
If you own common stock in Ruckus and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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New York, NY 10017
Tel: (212) 983-9330
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