A lawsuit was filed for investors in shares of Lifelock Inc (NYSE:LOCK) in connection with the proposed takeover and NYSE:LOCK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/23/2016 -- An investor who currently holds NYSE:LOCK shares filed a lawsuit in effort to halt the proposed takeover of Lifelock Inc by Symantec Corp for $24.00 per share.
Investors who purchased shares of Lifelock Inc (NYSE:LOCK) and currently hold any of those NYSE:LOCK shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:LOCK stockholders by agreeing to sell Lifelock Inc. too cheaply via an unfair process to Symantec Corp.
On November 20, 2016, Symantec Corp. (NASDAQ: SYMC) and Lifelock Inc (NYSE:LOCK) announced that they have entered into a definitive agreement for Symantec to acquire LifeLock for $24 per share or $2.3 billion in enterprise value.
However, the plaintiff claims that the proposed consideration NYSE:LOCK shareholders will receive is grossly inadequate and undervalues Lifelock Inc. In addition, the plaintiff alleges that the process is also unfair NYSE:LOCK stockholders.
On December 20, 2016, NYSE:LOCK shares closed at $23.89 per share.
Those who are current investors in Lifelock Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com