SAN DIEGO, Aug. 12, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Silicon Graphics International Corp. (NASDAQ: SGI) breached their fiduciary duties in connection with the proposed sale of the Company to Hewlett Packard Enterprise (NYSE: HPE). Silicon Graphics develops, markets and sells various servers, enterprise-class storage hardware, differentiating software and solutions.
On August 11, 2016, Silicon Graphics announced it had signed a definitive merger agreement with Hewlett Packard. Under the terms of the agreement, Silicon Graphics shareholders will receive $7.75 in cash for each share held.
The investigation concerns whether the Silicon Graphics 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 Silicon Graphics shares of common stock. Given the Company's outlook for future revenue and earnings growth, nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; Moreover, one Wall Street analyst has an $8.00 price target.
If you are a shareholder of Silicon Graphics and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number where you can be reached.
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
SOURCE Johnson & Weaver, LLP