Investor Lawsuit Against Takeover of Volcano Corporation (VOLC) Announced by Shareholders Foundation
29 Dezembro 2014 - 12:30PM
The Shareholders Foundation, Inc. announces that an investor, who
currently holds shares of Volcano Corporation (VOLC) filed a
lawsuit in effort to stop the proposed takeover of Volcano
Corporation by Royal Philips for $18.00 per VOLC share.
Investors, who purchased shares of Volcano Corporation
(Nasdaq:VOLC) prior to December 17, 2014, and currently hold any of
those NASDAQ VOLC shares, have certain options and should contact
the Shareholders Foundation, Inc. at
mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
The plaintiff alleges that the defendants breached their
fiduciary duties owed to (Nasdaq:VOLC) stockholders by agreeing to
sell Volcano Corporation too cheaply via an unfair process to Royal
Philips.
On December 17, 2014, Royal Philips and Volcano Corporation
(Nasdaq:VOLC) announced that they have entered into a merger
agreement. Pursuant to the agreement, Royal Philips will commence a
tender offer to acquire all of the issued and outstanding shares of
Volcano for USD 18.00 per share to be paid in cash upon
completion.
However, the plaintiff claims that the offer is too low and
undervalues Volcano Corporation. Indeed, (Nasdaq:VOLC) shares
traded in early 2014 as high as $23.12 per share, respectively as
high as $25.60 per share in early 2013. In addition, the plaintiff
claims that the process is also unfair to NASDAQ: VOLC
stockholders.
Those who currently hold Volcano Corporation (VOLC) shares and
purchased any of those VOLC shares prior to the acquisition
announcement have certain options and should contact the
Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or
call +1 (858) 779 - 1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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