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Sizmek Inc (NASDAQ:SZMK) Investor Lawsuit Against Acquisition Announced

  • If you purchased shares of Sizmek Inc (NASDAQ:SZMK), you may have certain options. Please 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
Sizmek Inc
Security
NASDAQ: SZMK

Case Name
Sizmek Deal Case 09/02/2016
Type of Lawsuit
Mergers and Acquisition
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Summary

September 2, 2016 (Shareholders Foundation) - An investor who currently holds shares of Sizmek Inc (NASDAQ:SZMK), filed a lawsuit in effort to halt the proposed takeover of Sizmek Inc by affiliates of private equity firm Vector Capital for $3.90 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SZMK stockholders by agreeing to sell Sizmek Inc too cheaply via an unfair process to affiliates of private equity firm Vector Capital.

On August 03, 2016, Sizmek Inc (announced that it has entered into an agreement with affiliates of private equity firm Vector Capital under which an affiliate of Vector will acquire all of the outstanding shares of Sizmek Inc (NASDAQ:SZMK) common stock for $3.90 per share in an all-cash tender offer.

However, plaintiff claims that the proposed consideration NASDAQ:SZMK shareholders will receive is grossly inadequate and undervalues Sizmek Inc. Indeed, NASDAQW:SZMK shares traded in 2015 as high as $7.90 per share. In addition, the plaintiff alleges that the process is also unfair to NASDAQW:SZMK stockholder.