SAN DIEGO, Aug. 12, 2016
/PRNewswire/ -- Shareholder rights law firm Johnson & Weaver,
LLP has launched an investigation into whether the board members of
Silicon Graphics International Corp. (NASDAQ: SGI) breached their
fiduciary duties in connection with the proposed sale of the
Company to Hewlett Packard Enterprise (NYSE: HPE). Silicon Graphics
develops, markets and sells various servers, enterprise-class
storage hardware, differentiating software and solutions.
On August 11, 2016, Silicon
Graphics announced it had signed a definitive merger agreement with
Hewlett Packard. Under the terms of the agreement, Silicon Graphics
shareholders will receive $7.75 in
cash for each share held.
The investigation concerns whether the Silicon Graphics 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 Silicon Graphics shares of common stock. Given the Company's
outlook for future revenue and earnings growth, nationally
recognized Johnson & Weaver is investigating whether the
proposed deal price represents adequate consideration; Moreover,
one Wall Street analyst has an $8.00
price target.
If you are a shareholder of Silicon Graphics 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. 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.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP