Acquisition of Sizmek Inc (NASDAQ:SZMK) Under Investigation for Investors
An investigation on behalf of investors of Sizmek Inc (NASDAQ:SZMK) in connection with the proposed takeover was announced and NASDAQ:SZMK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 08/16/2016 --The acquisition of Sizmek Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold shares of Sizmek Inc (NASDAQ:SZMK) concerning whether the takeover of Sizmek Inc by affiliates of private equity firm Vector Capital for $3.90 per share is unfair.
Investors who purchased shares of Sizmek Inc (NASDAQ:SZMK) and currently hold any of those NASDAQ:SZMK shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Sizmek Inc breached their fiduciary duties owed to NASDAQ:SZMK investors in connection with the proposed acquisition.
On August 03, 2016, Sizmek Inc (NASDAQ:SZMK) announced that it has entered into an agreement with affiliates of private equity firm Vector Capital under which an affiliate of Vector will acquire all of the outstanding shares of Sizmek Inc (NASDAQ:SZMK) common stock for $3.90 per share in an all-cash tender offer.
However, given that NASDAQW:SZMK shares traded in 2015 as high as $7.90 per share, the investigation concerns whether the offer is unfair to NASDAQ:SZMK stockholders. More specifically, the investigation concerns whether the Sizmek 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 Sizmek Inc (NASDAQ:SZMK) closed on August 15, 2016 at $3.86 per share.
Those who are current investors in Sizmek Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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View this press release online at: http://rwire.com/714616