A law office recently explained that a securities class action lawsuit was filed against a circuit manufacturer due to shareholders taking issue with its merger announcement.
Andrews and Springer, LLC, noted that the litigation was entered on June 27, 2014 in the Delaware Chancery Court against the leaders at PLX Technologies. On June 23, 2014, the company agreed to merge with Avago Technologies Limited in a deal worth approximately $309 million. If the deal is approved, shareholders would earn just $6.50 in cash per share of PLX Technologies stock owned. This may be too low, as one analyst at Craig-Hallum Capital Group noted that the target price was $8 per share.
It is an option for shareholders to become lead plaintiff in the case, as there has not yet been a certified class. In order to do this, it is important to retain counsel and file the proper paperwork with the court. This position will need to be approved by the court, though taking action is not necessary. Shareholders still have the option to remain absent class members, and collect in the event of a financial return.
For any stockholders who are looking to learn more about the situation, speaking with this law firm is a possibility. The best way to contact him is by telephone or email. There is also additional information available on the law office's website. The law firm does not charge when providing advice.
Separate investigation begins
Another law firm explained that it would seek answers to shareholders' questions regarding the merger between PLX Technologies and Avago Technologies. This could become a class action lawsuit in the future.
Brodsky and Smith, LLC, explained that it started an investigation of the board of directors at PLX Technologies due to many of the aforementioned reasons. There is a potential that the leaders of the company violated state law, as well as breached fiduciary duty by agreeing to the merger, as shareholders may not see a gain from the deal.
It is an option for shareholders who have questions about this investigation to discuss matters with the law office at no charge. The best people to reach are Jason Brodsky and Evan Smith, and they can be reached by mail, email or telephone. Additionally, there is also information available on the law office's website.