A lawsuit was filed by investor in shares of Volcano Corporation (NASDAQ:VOLC) in effort to stop the proposed takeover and NASDAQ:VOLC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/05/2015 -- An investor, who currently holds shares of Volcano Corporation (NASDAQ:VOLC), filed a lawsuit in effort to halt the proposed takeover of Volcano Corporation by Royal Philips for $18.00 per share.
Investors who purchased shares of Volcano Corporation (NASDAQ:VOLC) and currently hold any of those NASDAQ:VOLC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: VOLC stockholders by agreeing to sell Volcano Corporation too cheaply via an unfair process to Royal Philips.
On December 17, 2014, Royal Philips and Volcano Corporation (NASDAQ:VOLC) announced that they have entered into a merger agreement. Pursuant to the agreement, Royal Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share to be paid in cash upon completion.
However, the plaintiff claims that the offer is too low and undervalues Volcano Corporation. Indeed, NASDAQ: VOLC shares traded in early 2014 as high as $23.12 per share, respectively as high as $25.60 per share in early 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ: VOLC stockholders.
On December 31, 2014, NASDAQ:VOLC shares closed at $17.88 per share.
Those who are current investors in Volcano Corporation (NASDAQ:VOLC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego