SOURCE: Federman & Sherwood

August 12, 2013 14:48 ET

Federman & Sherwood Announces That a Lawsuit Has Been Filed Against Sourcefire, Inc. (NASDAQ: FIRE)

OKLAHOMA CITY, OK--(Marketwired - Aug 12, 2013) - On August 6, 2013, a lawsuit was filed in Maryland state court against Sourcefire, Inc. (NASDAQ: FIRE) ("Sourcefire"). The complaint alleges violations of state law and possible breaches of fiduciary duty by Sourcefire's officers and directors in connection with the proposed sale of Sourcefire to Cisco Systems, Inc. ("Cisco") by failing to adequately shop Sourcefire before agreeing to enter into this transaction, and whether Cisco is underpaying for Sourcefire shares.

On July 26, 2013, Sourcefire announced that its board of directors had agreed to sell Sourcefire to Cisco for $76 per share in cash in exchange for each share of Sourcefire, and that Cisco would assume outstanding equity awards for an aggregate purchase price of approximately $2.7 billion, including retention-based incentives. 

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