×

Investor Lawsuit Against Takeover of Volcano Corporation (VOLC) Announced by Shareholders Foundation

SAN DIEGO, Dec. 29, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor, who currently holds shares of Volcano Corporation (VOLC) filed a lawsuit in effort to stop the proposed takeover of Volcano Corporation by Royal Philips for $18.00 per VOLC share.

Investors, who purchased shares of Volcano Corporation (Nasdaq:VOLC) prior to December 17, 2014, and currently hold any of those NASDAQ VOLC shares, have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to (Nasdaq:VOLC) stockholders by agreeing to sell Volcano Corporation too cheaply via an unfair process to Royal Philips.

On December 17, 2014, Royal Philips and Volcano Corporation (Nasdaq:VOLC) announced that they have entered into a merger agreement. Pursuant to the agreement, Royal Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share to be paid in cash upon completion.

However, the plaintiff claims that the offer is too low and undervalues Volcano Corporation. Indeed, (Nasdaq:VOLC) shares traded in early 2014 as high as $23.12 per share, respectively as high as $25.60 per share in early 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ: VOLC stockholders.

Those who currently hold Volcano Corporation (VOLC) shares and purchased any of those VOLC shares prior to the acquisition announcement have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 mail@shareholdersfoundation.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108

Source:Shareholders Foundation, Inc.