NEW YORK, Oct. 4, 2016 /PRNewswire/ -- Notice is hereby
given that Faruqi & Faruqi, LLP has filed a class action
lawsuit in the United States District Court for the Western
District of Texas, case no.
1:16-cv-01073, on behalf of shareholders of Sizmek, Inc. ("Sizmek"
or the "Company") (NasdaqGS:SZMK) who held Sizmek securities and
have been harmed by Sizmek's and its board of directors' (the
"Board") alleged violations of Sections 13(e), 14(a) and 20(a) of
the Securities Exchange Act of 1934 (the "Exchange Act") and
Securities and Exchange Commission ("SEC") Rules 14a-9 and 13e-3 in
connection with the ongoing private transaction between Sizmek and
Vector Capital ("Vector").
On August 3, 2016, the Company
announced that Vector had initiated a tender offer to acquire all
of the outstanding shares of Sizmek, valuing the Company at
approximately $122 million (the
"Proposed Transaction").
If you wish to obtain information concerning this action or
view a copy of the complaint, you can do so by clicking here:
www.faruqilaw.com/SZMKnotice.
Pursuant to the terms of the Proposed Transaction, which was
unanimously approved by the Board, Sizmek shareholders will receive
$3.90 in cash per share for each
share of Sizmek they own. The complaint claims that this
consideration is inadequate in light of the Company's recent
financial performance and strong growth prospects.
The complaint also alleges that the Recommendation Statements
filed by Defendant Meruelo Investments, by the Company's Board and
by Vector, which will be filed with the SEC, provide materially
incomplete and misleading information about the Company and the
Proposed Transaction, in violation of Sections 13(e) and 14(a) of
the Exchange Act and Rules 14a-9 and 13e-3. Further, the
Recommendation Statements fail to provide Sizmek's shareholders
with material information concerning the financial and procedural
fairness of the Proposed Transaction.
Take Action
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm
with extensive experience in prosecuting class actions, and
significant expertise in actions involving corporate fraud.
Faruqi & Faruqi, LLP, was founded in 1995 and the firm
maintains its principal office in New
York City, with offices in Delaware, California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. Any member of the putative
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Nadeem Faruqi, Esq.
James Banko, Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: nfaruqi@faruqilaw.com
jbanko@faruqilaw.com
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SOURCE Faruqi & Faruqi, LLP