San Diego, CA -- (SBWire) -- 05/11/2015 --An investigation on behalf of investors, who currently hold shares of Cyan Inc (NYSE:CYNI), was announced concerning whether the takeover of Cyan Inc by Ciena for a value of approximately $4.75 per share is unfair to NYSE:CYNI stockholders.
Investors who purchased shares of Cyan Inc (NYSE:CYNI) and currently hold any of those NYSE:CYNI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Cyan Inc breached their fiduciary duties owed to NYSE:CYNI investors in connection with the proposed acquisition.
On May 4, 2015, Cyan Inc (NYSE:CYNI) announced it has entered into an agreement to be acquired by Ciena (NYSE:CIEN) for an aggregate purchase price of approximately $400 million (or approximately $335 million net of cash). Under the terms of the proposed transaction Ciena will acquire all outstanding shares of Cyan Inc (NYSE:CYNI for a combination of cash and stock valued at approximately $4.75 per NYSE:CYNI share.
However, given that shares of Cyan Inc (NYSE:CYNI) reached in 2013 as high as $13.80 per share, the investigation concerns whether the offer is unfair to NYSE:CYNI stockholders. More specifically, the investigation concerns whether the Cyan 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.
Those who are current investors in Cyan Inc (NYSE:CYNI) 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
Cyan Inc (NYSE:CYNI) Investor Alert: Investigation of Takeover by Ciena for $4.75 Per Share
An investigation on behalf of investors of Cyan Inc (NYSE:CYNI) in connection with the proposed takeover was announced and NYSE:CYNI stockholders should contact the Shareholders Foundation.