WILMINGTON, Del., Aug. 30, 2016 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed by another law firm on behalf of stockholders of Sizmek, Inc. (NASDAQ:SZMK) (“Sizmek” or the “Company”) seeking to challenge the Company’s recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On August 3, 2016, Sizmek and private equity firm Vector Capital (“Vector Capital”) announced the signing of a definitive merger agreement pursuant to which Vector Capital will acquire Sizmek in an all-cash merger worth approximately $122 million. As a result of the merger, Sizmek shareholders are only expected to receive $3.90 per share.
In particular, our firm is investigating the inadequate consideration that shareholders are anticipated to receive. The deal is $3.84 lower than Sizmek’s 52-week high of $7.74. Notably, the merger has been highly criticized by Sizmek shareholders. For example, on August 15, 2016, Sabra Capital Partners (“Sabra”), wrote a letter to Sizmek’s Board of Directors objecting to the Company’s merger with Vector Capital (which can be accessed here). Specifically, Sabra believes that the “timing of the sales process was ill-advised, poorly constructed and negligent in maximizing shareholder value” and that “[w]e believe the stock could be worth up to $8.00.”
On August 11, 2016, a Sizmek shareholder represented by another law firm filed a class action complaint challenging Sizmek’s merger with Vector Capital. The complaint was filed in the County Court for Dallas County, Texas captioned MSS 12-09 Trust v. Sizmek, Inc., et al, Case No. CC-16-04043-D.
If you own shares of Sizmek and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/sizmek-class-action-investigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.