Cree, Inc. Takeover Rumors spark Shareholder Investigation

An investigation on behalf of investors of Cree, Inc. in connection with takeover rumors was announced and NASDAQ- CREE stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
By: Shareholders Foundation, Inc.
 
June 8, 2011 - PRLog -- Following recent takeover rumors an investigation on behalf of investors of Cree, Inc.  over possible breaches of fiduciary duties was announced.

If you are a current investor in Cree, Inc.  shares, and/or have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether Cree Inc., certain of its officers and directors, and/or others breached their fiduciary duties owed to Cree, Inc.  investors in connection with the recent takeover rumors.

Cree, Inc has performed well in the past. Cree’s  52/53week Total Revenue more than doubled over the past four filing periods. Its Total Revenue increased from $394.12million reported on June 24, 2007 to $867.29million reported on June 27, 2010. Its Net Income almost tripped and rose within the same time frame from $57.33million to $152.29million

Shares of Cree, Inc. increased from as low as $13.13 in the end of 2008 to over $80 in 2010.

In January 2011 CREE shares traded as high as $69.20 per share and during February and March over $50 per share.

Therefore the investigation by a law firm questions whether a potential sale process and the potential price would be unfair to the shareholders of Cree, Inc. . The investigation focuses whether the Cree board of directors would in the event of a takeover undertake an adequate and fair sales process to obtain fair consideration for all shareholders of Cree, Inc.  and will breach their fiduciary duties to Cree shareholder by failing to adequately shop the Company before entering into any transaction. In addition the investigation seeks also to determine if any officer, director or any insiders violated any laws in connection with the recent takeover rumors. The investigation concerns also whether the acquirer would underpay for NASDAQ-CREE shares, thus unlawfully harming Cree investors. A potential class action lawsuit would seek to maximize the amount of money and information NASDAQ- CREE shareholders would receive in a buyout, so the law firm.

Those who are current investors in Cree, Inc. (Public, NASDAQ-CREE) common shares, and/or have any information relating the investigation, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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Source:Shareholders Foundation, Inc.
Email:***@shareholdersfoundation.com Email Verified
Zip:92108
Tags:Cree, Cree Inc, NASDAQ: CREE, Investor, Investigation, Stocks, Stock Market, Takeover, Acquisition, Merger, Buyout, Rumor
Industry:Banking, Business, Financial
Location:San Diego - California - United States
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