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Investigation announced for Investors in Synacor, Inc. (NASDAQ: SYNC) over potential Wrongdoing in Takeover

02-21-2020 04:13 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Synacor, Inc. (NASDAQ: SYNC) in connection with the proposed takeover was announced.

An investigation on behalf of investors of Synacor, Inc. (NASDAQ: SYNC) in connection with the proposed takeover was announced.

An investigation was announced concerning whether the takeover of Synacor, Inc. is unfair to NASDAQ: SYNC stockholders.

Investors who purchased shares of Synacor, Inc. (NASDAQ: SYNC) and currently hold any of those NASDAQ: SYNC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Synacor, Inc. breached their fiduciary duties owed to ASDAQ: SYNC investors in connection with the proposed acquisition.

Minneapolis, MN based Qumu Corporation provides tools to create, manage, secure, distribute, and deliver live and on-demand video content for the enterprises.

On February 11, 2020, Synacor, Inc. (Nasdaq: SYNC) and Qumu Corporation (Nasdaq: QUMU) announced plans to combine in an all-stock transaction. Under the terms of the merger agreement, each share of Qumu common stock issued and outstanding as of the effective date of the merger will be converted into approximately 1.61 shares of Synacor, Inc. (NASDAQ: SYNC) common stock. Based on a closing price of NASDAQ: SYNC shares of $ 1.53 per share on February 10, 2020, investors in Qumu Corporation (NASDAQ: QUMU) will receive a value of approximately at $2.46 per share.

However, given that at least one analyst has set the high target price for NASDAQ: QUMU at $6.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: SYNC stockholders. More specifically, the investigation concerns whether the Synacor Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in Synacor, Inc. (NASDAQ: SYNC) 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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