BALA CYNWYD, Pa., May 27, 2015 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Meru Networks, Inc. ("Meru Networks" or "the Company") (Nasdaq -MERU-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Fortinet Inc. ("Fortinet").
Click here to learn more about the investigation http://brodsky-smith.com/944-meru-meru-networks-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Meru Networks is being sold for only $44 million and Meru Networks shareholders will receive only $1.63 in cash for each share of Meru Networks stock they own. The investigation concerns whether the Board of Meru Networks breached their fiduciary duties to shareholders and whether Fortinet is underpaying for Meru Networks. The transaction may undervalue Meru Networks and will result in a loss for many Meru Networks shareholders. For example, Meru Networks stock traded at $3.53 per share as recently as February 5, 2015 and an analyst has $4.00 per share price target for Meru Network stock.
If you own shares of Meru Network and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/944-meru-meru-networks-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC