Investigation underway for Supertex purchase

A law office recently noted that shareholders of a technology company recently requested an investigation of its board of directors after it agreed to be purchased by another firm. This may develop into a class action lawsuit at a later date.

Law firm Rigrodsky and Long, P.A., noted it began an investigation of the board of directors at Supertex, Inc., after it agreed to an acquisition by Microchip Technology Incorporated. If approved, the deal will be worth close to $394 million.

The pending transaction would give Supertex shareholders $33 in cash for each Supertex share owned. However, this valuation may be too low, and the board of directors at Supertex may not have held out to get the best price for shareholders.

It is possible for any shareholders who purchased interests in Supertex before Feb. 10, 2014, to learn more about the process. This can include the investigations of the claims against the board of directors, or any discussion regarding how rights are affected. Both Gina Serra and Seth Rigrodsky are available to be reached by telephone or email. It is also possible to visit the law office's website to read about the investigation.

Second investigation starts
Another law firm noted it began investigating the purchase of Supertex by Microchip Technology. This also may become a securities class action claim in the future.

Law office Robbins Arroyo, LLP, started examining claims from shareholders against the board of directors at Supertex due to the pending deal. The transaction was agreed to on Feb. 10, 2014, and the deal may not give shareholders a proper valuation.

Supertex announced its earnings for the third quarter of 2013 on Jan. 21, 2014. In the report, it had a net sales gain of $17.35 million during the quarter, which was more than 20 percent higher than the same point in 2012. It also had a net margin during the first nine months of 2013 that was 10 percent higher than the same period during the previous year.

Due to the possibility of a lawsuit, there may be a need for shareholders to discuss their options and rights. This can be done by speaking to the law firm, and speaking with Darnell Donahue is the best way to get this information. He can be reached by telephone or email.