NEW YORK, Dec. 21, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of RigNet, Inc. ("RigNet" or the "Company") (NASDAQ: RNET) in connection with the proposed acquisition of the Company by Viasat, Inc. ("Viasat") (NASDAQ: VSAT), a provider of solutions to the administration and operations of health and human services programs. Under the terms of the merger agreement, RigNet shareholders will receive 0.1845 shares of Viasat stock per RigNet share they hold, representing an implied value to each RigNet shareholder of $5.79 per share based on Viasat's December 18, 2020 closing stock price of $31.41. Upon closing of the transaction, RigNet shareholders are expected to own approximately just 5.7% of Viasat's outstanding common stock.
If you own RigNet shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether RigNet's board acted in the best interest of RigNet's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]