NEW YORK, June 1, 2015 /PRNewswire/ -- The fairness to
shareholders of Meru Networks, Inc.'s ("MERU" or the "Company")
sale to Fortinet Inc. ("FTNT") is being investigated by WeissLaw
LLP. The investigation focuses on possible breaches of
fiduciary duty and other violations of law by the Board of
Directors of MERU. On May 27,
2015, FTNT agreed to acquire MERU for $44 million. Under the agreement, MERU
shareholders will receive $1.63 in
cash for each MERU share they own.
WeissLaw is investigating the MERU's Board's failure to maximize
shareholder value. Notably, at least one analyst set a price
target of $4.00 per share, or
$2.37 above the offer price.
Additionally, the offer price represents a premium of less than 10%
over the Company May 19, 2015 trading
price of $1.51. Moreover, MERU
shares traded for as high as $2.75 as
recently as February 26, 2015, or
approximately $1.25 above the FTNT
offer price.
Given these facts, WeissLaw is investigating whether MERU's
Board acted in the best interests of MERU's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with the FTNT. If you own MERU
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 or Kelly Keenan 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