Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of Switch and Data Facilities Company, Inc.
Business Wire
Oct 23, 2009
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) related to the proposed acquisition by Equinix, Inc.
(“Equinix”) (Nasdaq:EQIX).
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 clients@brodsky-smith.com,
or by calling toll free 877-LEGAL-90.
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