NEW YORK, Aug. 12, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Silicon Graphics
International Corp. ("SGI" or the "Company") in connection with the
proposed acquisition of the Company by Hewlett Packard Enterprise
Company ("HPE"). On August 11,
2016, the Company announced that it had reached a definitive
agreement for HPE to acquire all outstanding shares of SGI in a
transaction valued at approximately $275
billion. Under the terms of the agreement, SGI
shareholders will receive $7.75 in
cash for each SGI share they own.
WeissLaw is investigating whether SGI's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $8.50. Additionally, the Company's shares
traded for $7.79 as recently as
January. Moreover, on August 11,
2016, on the same as the acquisition announcement, SGI
reported total revenue increased $12
million, from $521 million for
fiscal year 2015 to $533 million for
fiscal year 2016.
Given these facts, WeissLaw is investigating whether SGI's Board
acted in the best interests of SGI's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own SGI 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