CYAN INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Cyan Inc.
NEW ORLEANS, May 4, 2015 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Cyan Inc. ("Cyan" or the "Company") (NYSE: CYNI) to Ciena (NYSE: CIEN). Under the terms of the proposed transaction, shareholders of Cyan will receive consideration equal to the value of only 0.224 shares of Ciena common stock for each share of Cyan that they own, 89% of which will be delivered in Ciena common stock and 11% of which will be delivered in cash based on the value of Ciena common stock at closing. According to the Company, this exchange ratio represents approximately $4.75 per share of Cyan common stock, based on Ciena's 20-day volume weighted average price as of May 1, 2015. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) or partner Michael J. Palestina ([email protected]) toll free at any time at 855-768-1857.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC
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