NEW YORK, Sept. 20, 2016
NEW YORK, Sept. 20, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Infoblox Inc. ("BLOX" or the "Company") in connection with the proposed acquisition of the Company by private equity firm Vista Equity Partners ("Vista"). On September 19, 2016, the Company announced that it had reached a definitive agreement for Vista to acquire all outstanding shares of BLOX in a transaction valued at approximately $1.6 billion. Under the terms of the agreement, BLOX shareholders will receive $26.50 in cash for each BLOX share they own.
WeissLaw is investigating whether BLOX's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $32.00, or $5.50 above the offer price. Moreover, the Company recently announced positive financial results. On August 31, 2016, BLOX reported total net revenue for fiscal 2016 of $358 million, representing a record 17% year-over-year growth when compared to the $306 million reported for fiscal 2015.
Given these facts, WeissLaw is investigating whether BLOX's Board acted in the best interests of BLOX's public shareholders to maximize shareholder value prior to entering into the agreement. If you own BLOX shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP