SAN DIEGO , Feb. 9, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Glu Mobile Inc. (NASDAQ: GLUU) breached their fiduciary duties in connection with the proposed sale of the Company to Electronic Arts Inc. (NASDAQ: EA).
On February 8, 2021 , Glu Mobile announced that it had entered into a definitive merger agreement with Electronic Arts. Under the terms of the Agreement, Glu Mobile shareholders will receive $12.50 in cash for each share of Glu Mobile's common stock they currently hold.
The investigation concerns whether the Glu Mobile board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Glu Mobile shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth. Additionally, Glu Mobile has over $360 million in cash and only $54 million in long-term debt and one Wall Street analyst has a $14.25 price target on the stock..
If you are a Glu Mobile shareholder and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ( jimb@johnsonfistel.com ) at 619-814-4471 . If emailing, please include a phone number.
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About Johnson Fistel , LLP:
Johnson Fistel , LLP is a nationally recognized shareholder rights law firm with offices in California , New York , and Georgia . The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com . Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel , LLP
Jim Baker , 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel , LLP