NEW YORK, June 3, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Xura, Inc. ("MESG" or the "Company") in connection with the proposed acquisition of the Company by affiliates of Siris Capital Group, LLC ("Siris"). On May 23, 2016, the Company announced it had reached a definitive agreement for affiliates of Siris to acquire all outstanding shares of MESG for $25.00 in cash for each share of Company common stock.
WeissLaw is investigating whether MESG's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $30.00 per share, or $5.00 above the offer price. Additionally, the Company recently announced positive financial results in the fourth quarter of 2015. It reported total revenue for the quarter of $82 million, an increase of 28% year over year. MESG also announced that it expected fiscal year 2016 annual revenue to be between $340 million and $370 million. As of January 31, 2016, the Company reported having cash and cash equivalents of approximately $170 million.
Given these facts, WeissLaw is investigating whether MESG's Board acted in the best interests of MESG's public shareholders to maximize shareholder value prior to entering into the agreement. If you own MESG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP