SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of The Board of Directors of Vitesse Semiconductor Corp.
March 23 2015 - 7:05AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Vitesse Semiconductor Corp. ("Vitesse” or "the Company") (Nasdaq:
VTSS) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to
Microsemi Corporation (“Microsemi”).
Click here to learn more about the investigation
http://brodsky-smith.com/906-vtss-vitesse-semiconductor-corp.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Vitesse shareholders will
receive only $5.28 in cash for each share of Vitesse stock they
own. The investigation concerns whether the Board of Vitesse
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into this
transaction, and whether Microsemi is underpaying for Vitesse. The
transaction may undervalue Vitesse and will result in loss for many
long term Vitesse shareholders. The price appears to undervalue
Vitesse given that the transaction is expected to be immediately
accretive to Microsemi and an analyst has set a $6.00 per share
price target for Vitesse stock.
If you own shares of Vitesse stock and wish to discuss the legal
ramifications of the investigation, or have any questions, you may
e-mail or call the law office of Brodsky & Smith, LLC who will,
without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
510, Bala Cynwyd, PA 19004, by visiting
http://brodsky-smith.com/906-vtss-vitesse-semiconductor-corp.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90http://brodsky-smith.com/906-vtss-vitesse-semiconductor-corp.html
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