NEW YORK, April 4, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Ruckus Wireless, Inc. ("Ruckus" or the "Company") (NYSE: RKUS) concerning the proposed acquisition of the Company by Brocade Communications Systems, Inc. ("Brocade").
Under the terms of the offer, Brocade would acquire Ruckus in a transaction valued at approximately $1.5 billion. Pursuant to the deal, Ruckus stockholders would receive $6.45 in cash and 0.75 shares of Brocade common stock, a combined value of approximately $13.32, for each Ruckus share owned. According to Yahoo Finance, at least one analyst has set a target price for Ruckus stock of $15.00 per share.
Our investigation concerns whether the Ruckus board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own Ruckus shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I. Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP