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Lionbridge Technologies, Inc. (NASDAQ:LIOX) Investor Lawsuit Against Acquisition Filed

  • If you purchased shares of Lionbridge Technologies, Inc. (NASDAQ:LIOX) and currently hold any of those NASDAQ:LIOX shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • 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

Company
Lionbridge Technologies, Inc.
Security
NASDAQ: LIOX

Case Name
Lionbridge Technologies Deal Case 05/12/2017
Type of Lawsuit
Mergers and Acquisition
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Summary

May 12, 2017 (Shareholders Foundation) - An investor, who currently holds shares of Lionbridge Technologies, Inc. (NASDAQ:LIOX), filed a lawsuit in effort to halt the proposed takeover of Lionbridge Technologies, Inc. by an affiliate of private equity investment firm H.I.G for $5.75 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:LIOX stockholders by agreeing to sell Lionbridge Technologies, Inc. cheaply via an unfair process to an affiliate of private equity investment firm H.I.G.

On Dec. 12, 2016, Lionbridge Technologies, Inc. (NASDAQ:LIOX) announced that it has signed an agreement to be acquired by an affiliate of private equity investment firm H.I.G.. Under the terms of the agreement, Lionbridge Technologies, Inc. (NASDAQ:LIOX)stockholders will receive $5.75 per share in cash for each share.

However, plaintiff claims that the proposed consideration NASDAQ:LIOX shareholders will receive is grossly inadequate and undervalues Lionbridge Technologies, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:LIOX at $7.00 per share. Furthermore, Lionbridge Technologies, Inc. reported that its annual Total Revenue rose from $490.61 million in 2014 to $559.98 million in 2015 and that its respective Net Income rose from $8.11 million to $14.24 million. In addition, the plaintiff alleges that the process is also unfair NASDAQ:LIOX stockholders.

Shares of Lionbridge Technologies, Inc. (NASDAQ:LIOX) closed on May 9, 2017, at $5.87 per share.