MILWAUKEE, May 27, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Meru for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Meru to Fortinet.
Click here to learn how to join the action: http://www.ademilaw.com/case/meru or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Meru’s long-term financial outlook is positive and yet shareholders will receive only the equivalent of $1.63 per share. Fortinet is well aware of Meru's improving financial metrics and is purchasing Meru at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Meru receive and accept a superior bid. Meru’s insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of Meru not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Meru’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Meru given its current financial condition and prospects.
If you own shares of Meru and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/meru.
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