A lawsuit was filed for investors in shares of Rofin-Sinar Technologies (NASDAQ:RSTI) in connection with the proposed takeover was announced and NASDAQ:RSTI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/11/2016 -- The Shareholders Foundation announced that an investor, who currently holds NASDAQ:RSTI shares, filed a lawsuit against the takeover of Rofin-Sinar Technologies by Coherent, Inc for $32.50 per share.
Investors who purchased shares of Rofin-Sinar Technologies (NASDAQ:RSTI) and currently hold any of those NASDAQ:RSTI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:RSTI stockholders by agreeing to sell Rofin-Sinar Technologies too cheaply via an unfair process to Coherent, Inc.
On March 16, 2016, Coherent, Inc. and Rofin-Sinar Technologies (NASDAQ:RSTI) announced that their Boards of Directors have approved an agreement under which Coherent will acquire Rofin-Sinar Technologies (NASDAQ:RSTI) for $32.50 per share in cash, in a transaction valued at approximately $942 million.
However, plaintiff claims that the proposed consideration NASDAQ:RSTI shareholders will receive is grossly inadequate and undervalues Rofin-Sinar Technologies. Indeed, at least one analyst has set the high target price for NASDAQ:RSTI shares at $33.00 per share. In addition, the plaintiff alleges that the process is also unfair to Rofin-Sinar Technologies stockholders.
Shares of Rofin-Sinar Technologies (NASDAQ:RSTI) closed on May 9, 2016, at $31.76 per share.
Those who are current investors in Rofin-Sinar Technologies shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com