RACKSPACE HOSTING, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
August 26 2016 - 12:11PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of Rackspace
Hosting, Inc. (NYSE: RAX)?
- Did you purchase any of your shares
prior to August 26, 2016?
- Do you think the proposed buyout
price is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of Rackspace
Hosting, Inc. (“Rackspace” or the “Company”) (NYSE: RAX) regarding
possible breaches of fiduciary duties and other violations of law
related to the Company’s entry into an agreement to be acquired by
affiliates of certain funds (the "Apollo Funds") managed by
affiliates of Apollo Global Management, LLC (together with its
consolidated subsidiaries, "Apollo") (NYSE: APO), in a transaction
valued at approximately $4.3 billion.
Click here to learn more:
http://rigrodskylong.com/investigations/rackspace-hosting-inc-rax.
Under the terms of the agreement, shareholders of Rackspace will
receive $32.00 in cash for each share of Rackspace common
stock.
The investigation concerns whether Rackspace’s board of
directors failed to adequately shop the Company and obtain the best
possible value for Rackspace shareholders before entering into an
agreement with Apollo.
If you own the common stock of Rackspace and purchased your
shares before August 26, 2016, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long,
P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by
telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at:
http://rigrodskylong.com/investigations/rackspace-hosting-inc-rax.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome
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version on businesswire.com: http://www.businesswire.com/news/home/20160826005498/en/
Rigrodsky & Long, P.A.Seth D. RigrodskyGina M.
Serra888-969-4242302-295-5310Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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