SAN DIEGO, Sept. 19, 2016
SAN DIEGO, Sept. 19, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Infoblox Inc. (NYSE: BLOX) breached their fiduciary duties in connection with the proposed sale of the Company to Vista Equity Partners. Infoblox designs, develops, manufactures and sells network control solutions.
On September 19, 2016, Infoblox announced it had signed a definitive merger agreement with Vista Equity Partners. Under the terms of the agreement, Infoblox stockholders will receive $26.50 per share in cash.
The investigation concerns whether the Infoblox board failed to satisfy their 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 Infoblox shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given that the price target for one Wall Street analyst is $32.00. Additionally, Infoblox has over $250 million in cash and no long-term debt.
If you are a shareholder of Infoblox 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 (email@example.com) at 619-814-4471. If emailing, please include a phone number where you can be reached.
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.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP