August 19, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Silicon Graphics International Corp (NASDAQ:SGI), was announced concerning whether the takeover of Silicon Graphics International Corp. by Hewlett Packard Enterprise for $7.75 per share is unfair to NASDAQ:SGI stockholders.

The investigation by a law firm concerns whether certain officers and directors of Silicon Graphics International Corp breached their fiduciary duties owed to NASDAQ:SGI investors in connection with the proposed acquisition.

On August 11, 2016, Silicon Graphics International Corp (NASDAQ:SGI) announced that it has signed an agreement to be acquired by Hewlett Packard Enterprise for $7.75 per share in cash, a transaction valued at approximately $275 million, net of cash and debt.

However, given that at least one analyst has set the high target price for NASDAQ:SGI shares at $8.00 per share, the
investigation concerns whether the offer is unfair to NASDAQ:SGI stockholders. More specifically, the investigation concerns whether the Silicon Graphics International 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.

Silicon Graphics International Corp reported that its Total Revenue increased from $521.26 million for the 52 weeks period that ended on June 26, 2015 to $532.93 million for the 52 weeks period that ended on June 24, 2016 while its respective Net Loss decreased from $39.15 million to $11.18 million. Shares of Silicon Graphics International Corp (NASDAQ:SGI) reached as high as $19.95 per share in August 2013.