A lawsuit was filed for investors in shares of Red Hat (NYSE: RHT) in connection with the proposed takeover and NYSE: RHT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/10/2019 -- An investor, who currently holds shares of Red Hat (NYSE: RHT), filed a lawsuit against the takeover of Red Hat.
Investors who purchased shares of Red Hat (NYSE: RHT) and currently hold any of those NYSE: RHT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: RHT stockholders by agreeing to sell Red Hat cheaply via an unfair process.
On October 28, 2018, IBM (NYSE:IBM) and Red Hat (NYSE:RHT) announced that the companies have reached an agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.
However, plaintiff claims that the proposed consideration NYSE: RHT shareholders will receive is grossly inadequate and undervalues Red Hat. In addition, the plaintiff alleges that the process is also unfair NYSE: RHT stockholders
Those who are current investors in Red Hat (NYSE: RHT) 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
About Shareholders Foundation, Inc.
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.