Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Meru Networks, Inc. (NASDAQ: MERU) breached their fiduciary duties in connection with the proposed sale of the Company to Fortinet, Inc.
Additional Information:
Meru Networks provides virtualized wireless local area network (LAN) solutions.
On May 27, 2015, Meru announced it had signed a definitive merger agreement with Fortinet. Under the terms of the agreement, Fortinet will pay $1.63 per Meru share in cash.
The investigation concerns whether Meru’s board failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. Meru has over $11 million in cash. One Wall Street analyst has a target price greater than the proposed purchase price offered by Fortinet. Additionally, revenue estimates for 2016 are estimated to increase 12.7%. The 52 week high for Meru’s stock is $4.50.
If you are a shareholder of Meru and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150527006027/en/
Contacts:
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
