PLX Technology, Inc. : Harwood Feffer LLP Announces Investigation of PLX Technology, Inc.
05/03/2012| 11:35am US/Eastern
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NEW YORK, May 3, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of PLX Technology, Inc. ("PLX" or the "Company") (NASDAQ: PLXT) concerning the proposed acquisition of the Company by Integrated Device Technology, Inc. ("Integrated") in a transaction valued at approximately $330 million.
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On May 2, 2012, it was announced that PLX and Integrated have entered into a definitive agreement pursuant to which Integrated will acquire PLX. Under the agreement, PLX shareholders will receive $3.50 in cash and 0.525 shares of Integrated common stock for each share held, representing a combined value of approximately $6.75 per share based on the closing price of Integrated stock on May 1, 2012.
Our investigation concerns whether the PLX board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own PLX shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP
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