NEW YORK, April 8, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ruckus Wireless, Inc. ("Ruckus" or the "Company") (NYSE: RKUS) (ISIN: US0781220100) (CUSIP: 078122010) concerning the proposed acquisition of Ruckus Wireless by Brocade Communications Systems, Inc. or ("Brocade").
Ruckus shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Ruckus directors are breaching their fiduciary duties by failing to adequately maximize shareholder value. Under the terms of the proposed transaction, Ruckus shareholders will be entitled to receive 0.75 shares of Brocade common stock and $6.45 in cash for each share of Ruckus common stock held. However, an analyst recently set a target price of $15.00 per share.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 9980
rswilloughby@pomlaw.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-llp-investigates-claims-that-the-merger-may-not-be-in-the-best-interest-of-investors-of-ruckus-wireless-inc---rkus-300248716.html
SOURCE Pomerantz LLP
