An investigation on behalf of investors of MRV Communications, Inc. (NASDAQ:MRVC) in connection with the proposed takeover was announced and NASDAQ:MRVC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/10/2017 -- The acquisition of MRV Communications, Inc is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of MRV Communications, Inc. (NASDAQ:MRVC), concerning whether the takeover of MRV Communications, Inc. by ADVA Optical Networking at $10.00 per share is unfair.
Investors who purchased shares of MRV Communications, Inc. (NASDAQ:MRVC) and currently hold any of those NASDAQ:MRVC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of MRV Communications, Inc. breached their fiduciary duties owed to NASDAQ:MRVC investors in connection with the proposed acquisition.
On July 3, 2017, MRV Communications, Inc. (NASDAQ:MRVC) announced that ADVA Optical Networking (FSE: ADV) has agreed to acquire MRV Communications, Inc. (NASDAQ:MRVC). Under the terms of the agreement, ADVA Optical Networking will make a tender offer of $10.00 per share for all the outstanding common stock of MRV Communications, Inc. (NASDAQ:MRVC).
However, given that NASDAQ:MRVC shares have reached in the open market as high as $10.85 per share on March 20, 2017, the investigation concerns whether the offer is unfair to NASDAQ:MRVC stockholders. More specifically, the investigation concerns whether the MRV Communications Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On July 7, 2017, NASDAQ:MRVC shares closed at $9.95 per share.
Those who are current investors in MRV Communications, Inc. 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