SHAREHOLDER ALERT: Brower Piven Announces the Investigation of PLX Technology, Inc. in Connection with the Proposed Sale of t...
July 02 2014 - 3:55PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of PLX
Technology, Inc. (“PLX” or the “Company”) (Nasdaq: PLXT) and other
violations of state law by the board of directors of PLX relating
to the proposed buyout of the Company by Avago Technologies Limited
(“Avago”).
It was announced that PLX and Avago entered into a definitive
merger agreement pursuant to which Avago will acquire PLX in a
merger valued at approximately $309 million.
Under the terms of the transaction, shareholders of PLX will
receive $6.50 per share in exchange for each share of PLX stock
they own. According to Yahoo! Finance, at least one analyst has
issued a price target for PLX stock at $8.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s board of directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into this transaction, and whether Avago is underpaying for
PLX shares.
If you currently own common stock of PLX and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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