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WILMINGTON, Del., Aug. 31, 2016 -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Sizmek, Inc. (“Sizmek” or the “Company”) relating to the sale of the Company to private equity firm Vector Capital (“Vector Capital”). On August 3, 2016, Sizmek and Vector Capital announced the signing of a definitive merger agreement pursuant to which Vector Capital will acquire Sizmek in an all-cash merger worth approximately $122 million. As a result of the merger, Sizmek shareholders are only expected to receive $3.90 per share.
Andrews & Springer’s investigation so far has revealed that the consideration Sizmek shareholders are expected to receive is inadequate. The deal is $3.84 lower than Sizmek’s 52-week high of $7.74. Notably, the merger has been highly criticized by Sizmek shareholders. For example, on August 15, 2016, Sabra Capital Partners (“Sabra”), wrote a letter to Sizmek’s Board of Directors objecting to the Company’s merger with Vector Capital (which can be accessed here). Specifically, Sabra believes that the “timing of the sales process was ill-advised, poorly constructed and negligent in maximizing shareholder value” and that “[w]e believe the stock could be worth up to $8.00.”
If you own shares of Sizmek and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/sizmek-class-action-investigation or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq. [email protected] Toll Free: 1-800-423-6013
