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If you purchased shares of Infoblox Inc (NYSE:BLOX) and currently hold any of those NYSE:BLOX shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
October 12, 2016 (Shareholders Foundation) - An investor who currently holds shares of Infoblox Inc (NYSE:BLOX), filed a lawsuit in effort to halt the proposed takeover of Infoblox Inc by Vista Equity Partners for $26.50 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BLOX stockholders by agreeing to sell Infoblox Inc. too cheaply via an unfair process to Vista Equity Partners.
On September 19, 2016, Infoblox Inc (NYSE:BLOX) announced that it has entered into an agreement to be acquired by private equity firm Vista Equity Partners. Under the terms of the agreement, Infoblox Inc (NYSE:BLOX) stockholders will receive $26.50 per share of common stock in cash. The transaction values Infoblox at approximately $1.6 billion.
However, plaintiff claims that the proposed consideration NYSE:BLOX shareholders will receive is grossly inadequate and undervalues Infoblox Inc. Indeed, at least on analyst has set the high target price for NYSE:BLOX shares at $32.00 per share. In addition, the plaintiff alleges that the process is also unfair to NYSE:BLOX stockholder