NEW YORK, June 3, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Xura, Inc. ("MESG"
or the "Company") in connection with the proposed acquisition of
the Company by affiliates of Siris Capital Group, LLC ("Siris").
On May 23, 2016, the Company
announced it had reached a definitive agreement for affiliates of
Siris to acquire all outstanding shares of MESG for $25.00 in cash for each share of Company common
stock.
WeissLaw is investigating whether MESG's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $30.00 per share, or $5.00 above the offer price. Additionally,
the Company recently announced positive financial results in the
fourth quarter of 2015. It reported total revenue for the
quarter of $82 million, an increase
of 28% year over year. MESG also announced that it expected
fiscal year 2016 annual revenue to be between $340 million and $370 million. As of
January 31, 2016, the Company
reported having cash and cash equivalents of approximately
$170 million.
Given these facts, WeissLaw is investigating whether MESG's
Board acted in the best interests of MESG's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own MESG 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
stockinfo@weisslawllp.com.
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 stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP