Shareholders Foundation, Inc.

Investigation for Investors over Buyout of Silicon Graphics International Corp (NASDAQ:SGI)

An investigation on behalf of investors of Silicon Graphics International Corp (NASDAQ:SGI) in connection with the proposed takeover was announced and NASDAQ:SGI stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 08/22/2016 -- An investigation on behalf of investors, who currently hold shares of Silicon Graphics International Corp (NASDAQ:SGI), was announced concerning whether the takeover of Silicon Graphics International Corp. by Hewlett Packard Enterprise for $7.75 per share is unfair to NASDAQ:SGI stockholders.

Investors who purchased shares of Silicon Graphics International Corp (NASDAQ:SGI) and currently hold any of those NASDAQ:SGI 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 officers and directors of Silicon Graphics International Corp breached their fiduciary duties owed to NASDAQ:SGI investors in connection with the proposed acquisition.

On August 11, 2016, Silicon Graphics International Corp (NASDAQ:SGI) announced that it has signed an agreement to be acquired by Hewlett Packard Enterprise for $7.75 per share in cash, a transaction valued at approximately $275 million, net of cash and debt.

However, given that at least one analyst has set the high target price for NASDAQ:SGI shares at $8.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:SGI stockholders. More specifically, the investigation concerns whether the Silicon Graphics International 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.

Silicon Graphics International Corp reported that its Total Revenue increased from $521.26 million for the 52 weeks period that ended on June 26, 2015 to $532.93 million for the 52 weeks period that ended on June 24, 2016 while its respective Net Loss decreased from $39.15 million to $11.18 million. Shares of Silicon Graphics International Corp (NASDAQ:SGI) reached as high as $19.95 per share in August 2013.

On August 19, 2016, NASDAQ:SGI shares closed at $7.69 per share.

Those who purchased shares of Silicon Graphics International Corp 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