Finkelstein Thompson LLP Announces Investigation of Microtune, Inc.
September 08 2010 - 12:36PM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Microtune, Inc. (“Microtune” or the
“Company”) (NasdaqGM:TUNE) concerning the proposed acquisition of
the Company by Zoran Corp. Under the terms of the offer, Microtune
shareholders will receive $2.92 in cash for each share of the
Company’s common stock held in a transaction valued at
approximately $166 million.
The investigation is focused on the potential unfairness of the
price to Microtune shareholders, the process by which the Microtune
Board of Directors considered the transaction, and potential
conflicts of interests on the part of Board members. Yahoo! Finance
shows analysts’ low target price of $3.50, median target price of
$4.25 and high target price of $5.00 per Microtune share. The
Company’s stock was trading between $2.75 and $2.98 from April 1,
2010 through April 29, 2010. Additionally, the Company’s recently
announced quarterly results show a revenue level that represents
growth of thirty-nine percent year over year.
If you are interested in discussing your rights as a Microtune
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson's Washington, DC offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
web site at www.finkelsteinthompson.com. Attorney advertising.
Prior results do not guarantee similar outcomes.
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