A lawsuit was filed for investors in shares of Mentor Graphics Corp (NASDAQ:MENT) in connection with the proposed takeover was announced and NASDAQ:MENT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/05/2017 -- The Shareholders Foundation announced that an investor who currently holds shares of Mentor Graphics Corp (NASDAQ:MENT), filed a lawsuit against the proposed takeover of Mentor Graphics Corp. by Siemens for $37.25 per share.
Investors who purchased shares of Mentor Graphics Corp (NASDAQ:MENT) and currently hold any of those NASDAQ:MENT shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MENT stockholders by agreeing to sell Mentor Graphics too cheaply via an unfair process to Siemens
On November 14, 2016, Siemens and Mentor Graphics Corp announced that they have entered into a merger agreement under which Siemens will acquire Mentor Graphics Corp (NASDAQ:MENT) for $37.25 per share in cash, which represents an enterprise value of $4.5 billion.
However, plaintiff claims that the proposed consideration NASDAQ:MENT shareholders will receive is grossly inadequate and undervalues Mentor Graphics Corp. In addition, the plaintiff alleges that the process is also unfair NASDAQ:MENT stockholders. Indeed, Mentor Graphics Corp shareholder Elliott Management has already committed to support the transaction.
Those who are current investors in Mentor Graphics Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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