SAN DIEGO, Aug. 8, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor who currently holds Sourcefire, Inc. (FIRE) shares filed a lawsuit to halt the proposed takeover of Sourcefire, Inc. by Cisco for $76 per share.
Investors who purchased shares of Sourcefire, Inc. (FIRE) prior to July 23, 2013 and currently hold any of those FIRE shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
On July 23, 2013 - Cisco (CSCO) and Sourcefire, Inc. (FIRE) announced an agreement for Cisco to acquire Sourcefire, Inc. Under the terms of the agreement, Cisco will pay $76 per share in cash in exchange for each share of Sourcefire, Inc. and assume outstanding equity awards for an aggregate purchase price of approximately $2.7 billion, including retention-based incentives.
However, the plaintiff alleges that the defendants breached their fiduciary duties by agreeing to sell Sourcefire, Inc. at an unfair price via an unfair process to Cisco. The plaintiff claims that the offer is too low and undervalues the company.
Those who currently are investors in Sourcefire, Inc. (FIRE) shares and purchased any of those FIRE shares prior to the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.