SanDisk Corporation (NASDAQ:SNDK) Investor Investigation Over Potential Wrongdoing In Acquisition Announced

If you purchased shares of SanDisk Corporation (NASDAQ:SNDK) and currently hold any of those NASDAQ:SNDK shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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October 27, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of SanDisk Corporation (NASDAQ:SNDK), was announced concerning whether the takeover of SanDisk Corporation by Western Digital Corporation for $86.50 per share is unfair to NASDAQ:SNDK stockholders.

The investigation by a law firm concerns whether certain officers and directors of SanDisk Corporation breached their fiduciary duties owed to NASDAQ:SNDK investors in connection with the proposed acquisition.

On October 21, 2015, Western Digital Corporation (NASDAQ: WDC) and SanDisk Corporation (NASDAQ:SNDK) announced that they have entered into an agreement under which Western Digital will acquire all of the outstanding shares of SanDisk for a combination of cash and stock. The offer values SanDisk common stock at $86.50 per share or a total equity value of approximately $19 billion.

However, given that at least one analyst has set the high target price for NASDAQ:SNDK shares at $90.00 per share and given that NASDAQ:SNDK shares traded in July 2014 as high as $106.76 per share, the investigation concerns whether the offer is unfair to NASDAQ:SNDK stockholders. More specifically, the investigation concerns whether the SanDisk Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

SanDisk Corporation reported that its annual Total Revenue rose from over $5.05 billion in 2012 to over $6.62 billion in 2014 and that its respective Net Income increased from $417.40 million to over $1 billion.

Shares of SanDisk Corporation (NASDAQ:SNDK) reached as high as $106.76 per share in July 2014.