Energy News / Shareholders Foundation, Inc.

NASDAQ:CA Investor Alert: Lawsuit Filed in Effort to Halt the Takeover of CA, Inc. by Broadcom Inc

Via: ReleaseWire

Updated 11:15 AM CDT, Tue, August 14,2018

A lawsuit was filed for investors in shares of CA, Inc. (NASDAQ: CA) in connection with the proposed takeover and NASDAQ: CA stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/14/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of CA, Inc. (NASDAQ: CA), filed a lawsuit against the takeover of CA, Inc. by Broadcom Inc. for $44.50 per share.

Investors who purchased shares of CA, Inc. (NASDAQ: CA) and currently hold any of those NASDAQ: CA shares have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: CA stockholders by agreeing to sell CA, Inc. cheaply via an unfair process.

New York based CA, Inc., together with its subsidiaries, develops, markets, delivers, and licenses software products and services in the United States and internationally. On July 11, 2018, Broadcom Inc. (NASDAQ: AVGO) and CA Technologies (NASDAQ: CA) announced that the companies have entered into an agreement under which Broadcom has agreed to acquire CA. Under the terms of the agreement, CA, Inc.'s (NASDAQ: CA) shareholders will receive $44.50 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ: CA shareholders will receive is grossly inadequate and undervalues CA, Inc. CA, Inc. reported that its Total Revenue rose from over $4.03 billion for the 12months period that ended on March 31, 2017 to over $4.23 billion for the 12 months period that ended on March 31, 2018.

In addition, the plaintiff alleges that the process is also unfair NASDAQ: CA stockholders. Indeed, Careal Property Group AG and affiliates, who collectively own approximately 25% of the outstanding shares of CA, Inc. (NASDAQ: CA) common stock, have already entered into a voting agreement to vote in favor of the transaction,.

Those who are current investors in CA, Inc. (NASDAQ: CA) shares have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

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Media Relations Contact
Michael Daniels
Email: Click to Email Michael Daniels