ShoreTel (SHOR) Alert: J&W Investigates Proposed Sale of ShoreTel, Inc.; Is $7.50 a Fair Price?

SAN DIEGO, July 27, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of ShoreTel, Inc. (NASDAQ: SHOR) ("ShoreTel") breached their fiduciary duties in connection with the proposed sale of the Company to Mitel Networks Corporation ("Mitel"). ShoreTel provides business communication solutions for small and medium sized businesses. The company offers integrated voice, video, data, and mobile applications based on Internet protocol technologies.

On July 27, 2017, ShoreTel announced that it had signed a definitive merger agreement with Mitel. Terms of the deal call for shareholders to receive $7.50 per share for each share of ShoreTel stock they own.

The investigation concerns whether the ShoreTel board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for ShoreTel shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given that the price target for one Wall Street analyst is $11.00 per share and ShoreTel has over $100 million in cash and no long-term debt. ShoreTel's 52 - week high was $8.56.

If you are a shareholder of ShoreTel and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471.

About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com

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SOURCE Johnson & Weaver, LLP