Switch and Data Facilities Company, Inc. Merger Litigation (Nasdaq: SDXC)
Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of Switch and Data Facilities Company, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Switch and Data Facilities Company, Inc. (“Switch and Data” or the “Company”) (Nasdaq:SDXC – News) related to the proposed acquisition by Equinix, Inc. (“Equinix”) (Nasdaq: EQIX-News).
Under the terms of the transaction, Switch and Data stockholders will have the opportunity to elect to receive either 0.19409 shares of EQIX stock or $19.06 in cash for each share of Switch and Data stock. The overall consideration to be paid by Equinix will be 80% stock and 20% cash. In the event that shareholders of more than 80% elect to receive stock or more than 20% elect to receive cash, the merger consideration will be pro-rated to achieve these proportions. The investigations concerns whether the board breached their fiduciary duties by failing to adequately shop the Company to maximize shareholder value before entering into this transaction.
If you are a Switch and Data shareholder and wish to discuss the legal ramifications of the Board’s actions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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