NEW YORK, May 19, 2015 /PRNewswire/ -- Juan E. Monteverde,
a partner at Faruqi & Faruqi, LLP, a leading national
securities firm headquartered in New York
City, is investigating the Board of Directors of Cyan, Inc.
("Cyan" or the "Company") (NYSE: CYNI) for potential breaches of
fiduciary duties in connection with the sale of the Company to
Ciena Corporation (NYSE: CIEN) for approximately $400 million. Cyan shareholders will
receive consideration equal to the value 0.224 shares of Ciena
common stock, or approximately $4.75
per share. However, Cyan has historically traded at much higher
prices. In fact, Cyan stock traded upwards of $9.00 for most of the fall of 2013 – more than
double the current deal price.
Click here for more information:
www.faruqilaw.com/CYNI. There is no cost or obligation to
you.
The investigation focuses on whether Cyan's Board of Directors
breached their fiduciary duties to the Company's stockholders by
failing to conduct a fair sales process and whether and by how much
this proposed transaction undervalues the Company to the detriment
of Cyan's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
If you own common stock in Cyan and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/CYNI or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Attorney Advertising. (C) 2015 Faruqi & Faruqi, LLP.
The law firm responsible for this advertisement is Faruqi &
Faruqi, LLP (www.faruqilaw.com). Prior results do not
guarantee or predict a similar outcome with respect to any future
matter. We are happy to discuss your particular case.
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