SILICON IMAGE ALERT: Johnson & Weaver, LLP Investigates the Fairness of Price & Process in Proposed Sale of Silicon Image, In...
January 27 2015 - 8:34AM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of Silicon
Image, Inc. (NASDAQ: SIMG) breached their fiduciary duties in
connection with the proposed buyout of the Company by Lattice
Semiconductor Corporation. Silicon Image provides video, audio, and
data connectivity solutions that enable the distribution and
presentation of high-definition content for the mobile, consumer
electronics and personal computer markets.
On January 27, 2015 Silicon Image and Lattice Semiconductor
announced that they had entered into a definitive merger agreement.
Under the terms of the agreement, Silicon Image stockholders will
receive $7.30 per share in cash, or a total of approximately $600
million. The proposed transaction is expected to close by the end
of March 2015, subject to regulatory approval.
The investigation concerns whether Silicon Image’s board failed
to satisfy their duties to the Company’s shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock. Nationally recognized
Johnson & Weaver, which focuses its practice on shareholder
rights, is investigating whether the proposed deal price represents
adequate consideration, especially given that Silicon Image has no
long term debt and has over $140 million in cash. Moreover, one
Wall Street analyst has an $8.00 price target on the stock which is
more than the $7.30 offer price.
If you are a shareholder of Silicon Image and believe that
the proposed buyout price is too low and you are 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.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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