SAN DIEGO, Nov. 2, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Brocade Communications Systems, Inc. (NASDAQ: BRCD) breached their fiduciary duties in connection with the proposed sale of the Company to Broadcom Limited. Brocade provides storage area networking (SAN) and Internet protocol (IP) networking solutions for businesses and organizations worldwide.
On November 2, 2016, Brocade announced it had signed a definitive merger agreement with Broadcom. Under the terms of the agreement, Broadcom will acquire all of the outstanding shares of Brocade common stock for $12.75 per share in cash.
The investigation concerns whether the Brocade board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Brocade shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of Brocade and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP