An investigation on behalf of investors of Cray Inc. (NASDAQ: CRAY) in connection with the proposed takeover was announced and NASDAQ: CRAY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/21/2019 -- An investigation was announced for investors, who currently hold shares of Cray Inc. (NASDAQ: CRAY), concerning the takeover of Cray Inc.
Investors who purchased shares of Cray Inc. (NASDAQ: CRAY) and currently hold any of those NASDAQ: CRAY shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Cray Inc. breached their fiduciary duties owed to NASDAQ: CRAY investors in connection with the proposed acquisition.
Seattle, WA based Cray Inc., together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. On May 17, 2019, Hewlett Packard Enterprise (NYSE:HPE) and Cray Inc. (Nasdaq: CRAY) announced that the companies have entered into a definitive agreement under which HPE will acquire Cray for $35.00 per share in cash, in a transaction valued at approximately $1.3 billion, net of cash.
However, given that following the takeover announcement shares of Cray Inc. (NASDAQ: CRAY) reached in the open market as high as $36.64 per share, the investigation concerns whether the offer is unfair to NASDAQ: CRAY stockholders. More specifically, the investigation concerns whether the Cray Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Cray Inc. (NASDAQ: CRAY) closed on May 20, 2019 at $35.60 per share.
Those who are current investors in Cray Inc. (NASDAQ: CRAY) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
For more information on this press release visit:
Media Relations Contact
Email: Click to Email Michael Daniels