An investigation on behalf of investors of Oclaro, Inc. (NASDAQ: OCLR) in connection with the proposed takeover was announced and NASDAQ: OCLR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/19/2018 -- An investigation was announced for investors, who currently hold NASDAQ: OCLR shares concerning whether the takeover of Oclaro, Inc. by Lumentum Holdings Inc for a value of approximately $9.99 per share is unfair.
Investors who purchased shares of Oclaro, Inc. (OCLR) and currently hold any of those NASDAQ: OCLR shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Oclaro, Inc. (breached their fiduciary duties owed to NASDAQ: OCLR investors in connection with the proposed acquisition.
On March 12, 2018, Lumentum Holdings Inc. and Oclaro, Inc. announced that the two companies have signed a definitive agreement, unanimously approved by the boards of directors of both companies, pursuant to which Lumentum will acquire all of the outstanding common stock of Oclaro. For each share of Oclaro stock held, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock, subject to the terms of the definitive agreement. The transaction values Oclaro at $9.99 per share or approximately $1.8 billionin equity value, based on the closing price of Lumentum's stock on March 9, 2018, of $68.98.
However, given that at least one analyst has set the high price target for NASDAQ:OCLR at $12.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: OCLR stockholders. More specifically, the investigation concerns whether the Oclaro 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 Oclaro, Inc. (NASDAQ: OCLR) closed on March 16, 2018 at $7.75 per share.
Those who are current investors in Oclaro, Inc. (OCLR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego