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 firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. You may also contact Juan E. Monteverde, Esq. either via email at email@example.com or by telephone at (212) 971-1341.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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