A lawsuit was filed for investors in shares of Electronics for Imaging, Inc. (NASDAQ: EFII) in connection with the proposed takeover.
San Diego, CA -- (SBWIRE) -- 06/17/2019 -- An investor, who currently holds shares of Electronics for Imaging, Inc. (NASDAQ: EFII), filed a lawsuit against the takeover of Electronics for Imaging, Inc.
Investors who purchased shares of Electronics for Imaging, Inc. (NASDAQ: EFII) and currently hold any of those NASDAQ: EFII shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: EFII stockholders by agreeing to sell Electronics for Imaging, Inc. cheaply via an unfair process.
Fremont, CA based Electronics for Imaging, Inc. provides industrial format display graphics, corrugated packaging and display, textile, and ceramic tile decoration digital inkjet printers worldwide. ON April 15, 2019, Electronics For Imaging, Inc. (Nasdaq: EFII) announced that it has entered into an agreement to be acquired by an affiliate of Siris Capital Group, LLC in an all-cash transaction valued at approximately $1.7 billion. Under the terms of the Agreement, which has been unanimously approved by EFI's Board of Directors, an affiliate of Siris will acquire all the outstanding common stock of EFI for $37.00 per share in cash.
However, the plaintiff claims that the proposed consideration NASDAQ: EFII shareholders will receive is grossly inadequate and undervalues Electronics for Imaging, Inc. Electronics for Imaging, Inc. reported that its annual Total Revenue rose from $993.26 million in 2017 to over $1.01 billion in 2018. In addition, the plaintiff alleges that the process is also unfair NASDAQ: EFII stockholders.
Those who are current investors in Electronics for Imaging, Inc. (NASDAQ: EFII) shares have certain options and should contact the Shareholders Foundation.
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