SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Vitesse Semiconductor Corp. And Encourag...
March 19 2015 - 2:08PM
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 Vitesse Semiconductor Corp.
(“Vitesse” or the “Company”) (Nasdaq: VTSS) relating to the
proposed buyout of the Company by Microsemi Corp.
Under the terms of the transaction, Vitesse shareholders are
anticipated to receive $5.28 in cash for each share of Vitesse
common stock held. 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 Vitesse stock at $6.00 per share.
If you currently own common stock of Vitesse 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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