EQUITY ALERT: The Rosen Law Firm Announces Investigation of Cyan Inc. Concerning its Proposed Sale to Ciena Corporation
05 Mayo 2015 - 4:39PM
Business Wire
The Rosen Law Firm, a global investor rights law firm, announces
that it is investigating the Board of Directors of Cyan Inc.
(NYSE:CYNI) for possible breaches of fiduciary duty and other
violations of law by failing to adequately shop Cyan to maximize
shareholder value before agreeing to be acquired by Ciena
Corporation (NYSE:CIEN).
If you would like to join the action, go to the firm’s website
at http://rosenlegal.com/cases-599.html or contact Phillip Kim or
Kevin Chan toll-free at 866-767-3653 or via e-mail at
pkim@rosenlegal.com or kchan@rosenlegal.com. There is no cost or
obligation to you.
Under the terms of the proposed transaction, shareholders will
receive consideration equal to the value of 0.224 shares of Ciena
common stock for each share of Cyan common stock they own. Based on
Ciena’s 20-day volume weighted average price as of May 1, 2015,
this exchange ratio represents approximately $4.75 per share of
Cyan common stock. The proposed transaction is valued at
approximately $400 million. The investigation relates to whether
the proposal is fair to the public shareholders of Cyan and whether
Cyan’s Board breached its fiduciary duties in connection with the
proposed sale.
If you currently own shares of Cyan and wish to obtain
additional information, please visit the firm’s website at
http://rosenlegal.com/cases-599.html. You may also contact Phillip
Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653
or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm, P.A.Phillip Kim, Esq.Kevin Chan,
Esq.Laurence Rosen, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 1-866-767-3653Fax:
212-202-3827pkim@rosenlegal.comkchan@rosenlegal.comlrosen@rosenlegal.comwww.rosenlegal.com
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