MILWAUKEE, July 9, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating Acacia Communications (NASDAQ: ACIA) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Acacia to Cisco.
Click here to learn how to join the action: http://ademilaw.com/case/acacia or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Acacia's financial outlook is improving and yet shareholders will receive only $70 for each share of Acacia common stock they own. Cisco is acquiring Acacia at a substantial discount. The merger agreement unreasonably limits competing bids for Acacia by prohibiting solicitation of further bids, and imposing a termination penalty if Acacia accepts a superior bid. Acacia insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Acacia's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Acacia.
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