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Rackspace Hosting, Inc. (RAX)



Faruqi & Faruqi, LLP Announces the Investigation of Rackspace Hosting, Inc. (RAX) Over the Proposed Sale of the Company to Apollo Global Management, LLC

Nadeem Faruqi, founding partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Rackspace Hosting, Inc. (“Rackspace” or the “Company”) (NYSE:RAX) for potential breaches of fiduciary duties in connection with the sale of the Company to Apollo Global Management, LLC for approximately $4.3 billion. 

The Company’s stockholders will only receive $32.00 in cash for each share of Rackspace common stock they own. However, this consideration is below Cowen and Company’s price target of $38.00 per share announced on August 11, 2016 and Rackspace’s 52-week high of $32.84 per share.

If you own common stock in Rackspace and wish to obtain additional information and protect your investments free of charge, please fill out the form  below or contact Nadeem Faruqi, Esq. either via e-mail at nfaruqi@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.  You may also contact Juan E. Monteverde, Esq.  either via email at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.


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  • Company:
    Rackspace Hosting, Inc. (RAX)

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Contact Counsel

Nadeem Faruqi
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330


Case Details


  • 08/30/2016

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