NEW YORK, June 19, 2014 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential claims against the board of directors of Fusion-io, Inc. ("Fusion-io" or the "Company") (NYSE: FIO) concerning possible breaches of fiduciary duty and other violations of law related to Fusion-io's efforts to sell the Company to SanDisk Corporation in a transaction valued at approximately $1.1 billion.
Under the terms of the agreement, shareholders of Fusion-io will receive $11.25 in cash for each share of Fusion-io they own.
Our investigation concerns possible breaches of fiduciary duty and other violations of law by Fusion-io's Board of Directors for not acting in the best interest of the Company's shareholders in connection with the sale process.
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SOURCE Morgan & Morgan