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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 at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
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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
September 6, 2017 (Shareholders Foundation) - An investor, who currently holds shares of ShoreTel Inc (NASDAQ:SHOR), filed a lawsuit in effort to halt the proposed takeover of ShoreTel Inc. by Mitel.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SHOR stockholders by agreeing to sell ShoreTel Inc. cheaply via an unfair process to Mitel.
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, plaintiff claims that the proposed consideration NASDAQ:SHOR shareholders will receive with EQT Corporation offer is grossly inadequate and undervalues ShoreTel Inc. Indeed, at least one analyst has set the high target price for NASDAQ:SHOR shares at $8.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ:SHOR stockholders