NEW YORK, Aug. 30, 2016 /PRNewswire/ -- Nadeem Faruqi, founding partner at Faruqi &
Faruqi, LLP, a leading national securities firm headquartered in
New York City, is investigating
the Board of Directors of Rackspace Hosting, Inc. ("Rackspace" or
the "Company") (NYSE:RAX) for potential breaches of fiduciary
duties in connection with the sale of the Company to Apollo Global
Management, LLC for approximately $4.3
billion.
The Company's stockholders will only receive $32.00 in cash for each share of Rackspace common
stock they own. However, this consideration is below Cowen and
Company's price target of $38.00 per
share announced on August 11, 2016
and Rackspace's 52-week high of $32.84 per share.
Click here for more information: www.faruqilaw.com/RAX.
There is no cost or obligation to you.
The investigation focuses on whether Rackspace's Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Rackspace's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
Faruqi & Faruqi, LLP is working together in this
investigation with Juan E.
Monteverde from Monteverde & Associates PC.
If you own common stock in Rackspace and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/RAX or contact
Nadeem Faruqi, Esq. either via
e-mail at nfaruqi@faruqilaw.com or by telephone at (877)
247-4292 or (212) 983-9330. You may also contact Juan E.
Monteverde, Esq. either via email at
jmonteverde@monteverdelaw.com or by telephone at (212)
971-1341.
Contact:
Faruqi & Faruqi, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Nadeem Faruqi, Esq.
nfaruqi@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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The law firm responsible for this advertisement is Faruqi &
Faruqi, LLP (www.faruqilaw.com). Prior results do not
guarantee or predict a similar outcome with respect to any future
matter. We are happy to discuss your particular case.
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