A lawsuit was filed for investors in shares of Mellanox Technologies, Ltd. (NASDAQ: MLNX) in connection with the proposed takeover and Mellanox Technologies, Ltd. (NASDAQ: MLNX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/07/2019 -- The Shareholders Foundation announces that an investor, who currently holds shares of Mellanox Technologies, Ltd. (NASDAQ: MLNX), filed a lawsuit against the takeover of Mellanox Technologies, Ltd.
Investors who purchased shares of Mellanox Technologies, Ltd. (NASDAQ: MLNX) and currently hold any of those Mellanox Technologies, Ltd. (NASDAQ: MLNX shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: MLNX stockholders by agreeing to sell Mellanox Technologies, Ltd. cheaply via an unfair process.
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, markets, and sells interconnect products and solutions. On March 9, 2019, NVIDIA and Mellanox announced that the companies have reached a agreement under which NVIDIA will acquire Mellanox. Pursuant to the agreement, NVIDIA will acquire all of the issued and outstanding common shares of Mellanox for $125 per share in cash, representing a total enterprise value of approximately $6.9 billion.
Plaintiff claims that the proposed consideration NASDAQ: MLNX shareholders will receive is grossly inadequate and undervalues Mellanox Technologies, Ltd. Mellanox Technologies, Ltd. reported that its annual Total Revenue rose from $863,89 million in 2017 to over $1.08 billion in 2018 and that its Net Loss of $19.42 million in 2017 turned to a Net Income of $134.25 million in 2018. In addition, the plaintiff alleges that the process is also unfair NASDAQ: MLNX stockholders.
Shares of Mellanox Technologies, Ltd. (NASDAQ: MLNX) closed on May 6, 2019, at $119.97 per share.
Those who are current investors in Mellanox Technologies, Ltd. (NASDAQ: MLNX) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.