(CRAY) Alert: Johnson Fistel Investigates Proposed Sale of Cray Inc.; Are Shareholders Getting a Fair Deal?
CRAY (CRAY)
Last cray earnings: 8/2 04:05 pm
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cray.com/company/investors
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Source: PR Newswire
SAN DIEGO, May 17, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Cray Inc. (NASDAQ: CRAY) breached their fiduciary duties in connection with the proposed sale of the Company to Hewlett Packard Enterprise (NYSE: HPE).On May 17, 2019, Cray announced that it had signed a definitive merger agreement with Hewlett Packard. Under the terms of the merger agreement, Hewlett Packard will acquire all of the outstanding shares of Cray in an all-cash transaction. Cray shareholders will receive $35.00 per share in cash.The investigation concerns whether the Cray 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 Cray shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially
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