Press release
Lawsuit filed for Investors in Pivotal Software, Inc. (NYSE: PVTL) against Acquisition
A lawsuit was filed for investors in shares of Pivotal Software, Inc. (NYSE: PVTL) in connection with the proposed takeover.
Investors who purchased shares of Pivotal Software, Inc. (NYSE: PVTL) and currently hold any of those Pivotal Software, Inc. (NYSE: PVTL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: PVTL stockholders by agreeing to sell Pivotal Software, Inc. cheaply via an unfair process.
On Aug. 22, 2019, VMware, Inc. (NYSE: VMW) and Pivotal Software, Inc. (NYSE: PVTL) announced that the companies have entered into an agreement under which VMware will acquire Pivotal for a blended price per share of $11.71 , comprised of $15 per share in cash to Class A stockholders, and the exchange of shares of VMware’s Class B common stock for shares of Pivotal Class B common stock held by Dell Technologies , at an exchange ratio of 0.0550 shares of VMware Class B stock for each share of Pivotal Class B stock. In total, the merger consideration represents an enterprise value for Pivotal of $2.7 billion.
However, plaintiff claims that the proposed consideration NYSE: PVTL shareholders will receive is grossly inadequate and undervalues Pivotal Software, Inc. In addition, the plaintiff alleges that the process is also unfair NYSE: PVTL stockholders.
Those who are current investors in Pivotal Software, Inc. (NYSE: PVTL) shares have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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