An investigation on behalf of investors of Envivio Inc (NASDAQ:ENVI) in connection with the proposed takeover was announced and NASDAQ:ENVI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/29/2015 -- An investigation for shareholder who purchased shares of Envivio Inc (NASDAQ:ENVI) was announced concerning whether the takeover of Envivio Inc by Ericsson for $4.10 per share is unfair.
On September 10, 2015, Envivio Inc (NASDAQ:ENVI) announced that it has entered into an agreement to be acquired by Ericsson.
Investors who purchased shares of Envivio Inc (NASDAQ:ENVI) and currently hold any of those NASDAQ:ENVI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Envivio Inc breached their fiduciary duties owed to NASDAQ:ENVI investors in connection with the proposed acquisition.
Under the terms of the agreement, Ericsson will commence a cash tender offer to purchase all of Envivio Inc's outstanding shares, with a merger following the completion of the tender offer which would result in all shares not tendered in the tender offer being converted into the right to receive $4.10per share.
However, given that certain of Envivio's major stockholders, collectively owning approximately 34 percent of Envivio's outstanding common stock, have already entered into a tender and support agreement with Ericsson committing to tender all of their Envivio shares in the tender offer and to vote in favor of the merger, the investigation concerns whether the offer is unfair to NASDAQ:ENVI stockholders. More specifically, the investigation concerns whether the Envivio 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.
Shares of Envivio Inc (NASDAQ:ENVI) closed on September 25, 2015 at $4.07 per share.
Those who are current investors in Envivio Inc (NASDAQ:ENVI) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego