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26.10.2017 22:49
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PR Newswire
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Gigamon (GIMO) Alert: Johnson Fistel Investigates Proposed Sale of Gigamon Inc.; Is $38.50 a Fair Price?
10 Downing Street, die Residenz des britischen Premierministers in London.
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PR Newswire
SAN DIEGO, Oct. 26, 2017
SAN DIEGO, Oct. 26, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Gigamon Inc. (NYSE: GIMO) ("Gigamon" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Elliott Management ("Elliott"). Gigamon provides active visibility into physical and virtual network traffic, enabling stronger security and superior performance.
On October 26, 2017, Gigamon announced that it had signed a definitive merger agreement with Elliott. Under the terms of the deal, Elliott will acquire Gigamon for $38.50 per share. Elliott's investment is being led by its private equity affiliate, Evergreen Coast Capital ("Evergreen").
Elliott is currently a 7.0% equity stakeholder in Gigamon, and Elliott and its affiliates have agreed to vote their shares in favor of the transaction.
The investigation concerns whether the Gigamon board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Gigamon shares of common stock.
If you are a shareholder of Gigamon 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 attorney Scott Holleman in our New York office (scotth@johnsonfistel.com) at 212-802-1486. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Scott Holleman, 212-802-1486
scotth@johnsonfistel.com
View original content:http://www.prnewswire.com/news-releases/gigamon-gimo-alert-johnson-fistel-investigates-proposed-sale-of-gigamon-inc-is-3850-a-fair-price-300544679.html
SOURCE Johnson Fistel, LLP
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