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If you purchased shares of Volcano Corporation (NASDAQ:VOLC) and currently hold any of those NASDAQ:VOLC 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 case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
December 26, 2014 (Shareholders Foundation) - An investor, who currently holds shares of Volcano Corporation (NASDAQ:VOLC), filed a lawsuit in effort to halt the proposed takeover of Volcano Corporation by Royal Philips for $18.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: VOLC stockholders by agreeing to sell Volcano Corporation too cheaply via an unfair process to Royal Philips.
On December 17, 2014, Royal Philips and Volcano Corporation (NASDAQ:VOLC) announced that they have entered into a merger agreement. Pursuant to the agreement, Royal Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share to be paid in cash upon completion.
However, the plaintiff claims that the offer is too low and undervalues Volcano Corporation. Indeed, NASDAQ: VOLC shares traded in early 2014 as high as $23.12 per share, respectively as high as $25.60 per share in early 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ: VOLC stockholders.
On December 26, 2014, NASDAQ:VOLC shares closed at $17.89 per share.