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If you purchased shares of ShoreTel Inc (NASDAQ:SHOR) and currently hold any of those NASDAQ:SHOR 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 investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
August 11, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of ShoreTel Inc (NASDAQ:SHOR), was announced concerning whether the takeover of ShoreTel Inc. by Mitel is unfair to NASDAQ:SHOR stockholders.
The investigation by a law firm concerns whether certain officers and directors of ShoreTel Inc breached their fiduciary duties owed to NASDAQ:SHOR investors in connection with the proposed acquisition.
On July 27, 2017, Mitel (Nasdaq:MITL) (TSX:MNW) and ShoreTel (Nasdaq:SHOR) announced that they have entered into a merger agreement pursuant to which Mitel will acquire 100% of the outstanding shares of ShoreTel common stock in an all-cash transaction at a price of $7.50 per share.
However, given that at least one analyst has set the high target price for NASDAQ:SHOR shares at $8.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:SHOR stockholders. More specifically, the investigation concerns whether the ShoreTel Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
