A lawsuit was filed for investors in shares of Cavium Inc (NASDAQ:CAVM) in connection with the proposed takeover and NASDAQ:CAVM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/18/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Cavium Inc (NASDAQ:CAVM), filed a lawsuit against the takeover of Cavium Inc. by Marvell Technology Group Ltd.
Investors who purchased shares of Cavium Inc (NASDAQ:CAVM) and currently hold any of those NASDAQ:CAVM shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CAVM stockholders by agreeing to sell Cavium Inc cheaply via an unfair process to Marvell Technology Group Ltd.
On November 20, 2017, Marvell Technology Group Ltd. (NASDAQ: MRVL) and Cavium Inc (NASDAQ:CAVM) announced an agreement, under which Marvell Technology Group Ltd will acquire all outstanding shares of Cavium Inc (NASDAQ:CAVM) common stock in exchange for consideration of $40.00 per share in cash and 2.1757 Marvell Technology Group Ltd common shares for each Cavium Inc (NASDAQ:CAVM) share. Based on a closing price of $20.29 per NASDAQ:MRVL shares on November 17, 2017, investors of Cavium Inc will receive a value of approximately $84.14 per NASDAQ:CAVM.
However, plaintiff claims that the proposed consideration NASDAQ:CAVM shareholders will receive is grossly inadequate and undervalues Cavium Inc. Indeed, at least one analyst has set the high price target for NASDAQ:CAVM shares at $94.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ:CAVM stockholders.
Those who are current investors in Cavium Inc (NASDAQ:CAVM) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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