RPX (RPXC) ALERT: Johnson Fistel Investigates Proposed Sale of RPX Corporation; Are Shareholders Getting a Fair Price?
SAN DIEGO, May 1, 2018 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of RPX Corporation. (NASDAQ: RPXC) (“RPX) breached their fiduciary duties in connection with the proposed sale of the Company to HGGC. RPX provides patent risk management and discovery services in the United States, Japan, South Korea, and internationally.
On May 1, 2018, RPX announced that it had signed a definitive merger agreement with HGGC. Under the terms of the agreement, HGGC will initiate a tender offer for RPX shares at a price of $10.50 per share in cash.
The investigation concerns whether the RPX board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the merger and whether the board obtained the best price possible for RPX shareholders. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $16.00 price target on the stock. The 52-week high for RPX was $15.15. Additionally, RPX has over $159 million in cash and no long-term debt.
If you are a shareholder of RPX and believe the proposed sale price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP