NEW YORK, Oct. 28, 2015 /PRNewswire/ -- The fairness of the
proposed acquisition of SanDisk Corporation ("SNDK" or the
"Company") by Western Digital Corporation (WDC) is the subject
of an investigation by WeissLaw LLP, a national class action,
shareholder rights law firm. The investigation is focusing on
possible breaches of fiduciary duty and other violations of law by
the Board of Directors of SNDK for agreeing to sell the Company to
Western Digital. On October 21, 2015, the Company
announced it had reached a definitive agreement for Western Digital
to acquire SNDK in a transaction valued at approximately
$19.0 billion. Under the terms of the
agreement, SNDK shareholders will receive $85.10 in cash and 0.0176 of a Western Digital
common share for each SNDK shares they own; representing a total
value of $86.33 per SNDK share based
on Western Digital's October 22, 2015
closing price.
WeissLaw is investigating whether SNDK's Board acted to maximize
shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price of
$90.00 per share, or approximately
$4.00 above the offer
price. Further, SNDK reported revenues of $1.452 million in the third quarter of 2015,
representing a 17% sequential increase in revenues.
Given these facts, WeissLaw is investigating whether SNDK's
Board acted in the best interests of SNDK' s public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with Western Digital. If you own
SNDK 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/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP