SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Silicon Image, Inc. And Encourages Inves...
January 27 2015 - 4:34PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Silicon Image, Inc. (“Silicon
Image” or the “Company”) (Nasdaq: SIMG) relating to the proposed
buyout of the Company by Lattice Semiconductor Corporation
(“Lattice”).
On January 27, 2015, Silicon Image and Lattice announced the
signing of a definitive agreement pursuant to which Lattice will
acquire Silicon Image in a transaction valued at approximately $600
million.
Under the terms of the transaction, Silicon Image shareholders
are anticipated to receive $7.30 in cash for each share of Silicon
Image common stock held. The transaction is expected to close by
the end of March 2015, though Silicon Image shareholders will most
likely be asked to vote on the transaction well before that
time.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to 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. In particular, according to Yahoo! Finance, at least one
Wall Street analyst has issued a price target for Silicon Image
stock at $8.00 per share.
If you currently own common stock of Silicon Image 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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