PLX Technology, Inc. : PLX Technology Investor Alert: The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of the Buyout of PLX Technology, Inc. by Integrated Device Technology, Inc.
05/01/2012| 04:45pm US/Eastern
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Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating the sale of PLX
Technology, Inc. ("PLXT") (NASDAQ: PLXT) to Integrated Device
Technology, Inc. ("IDT") for shareholders. Under the purchase agreement,
PLXT's shareholders will receive $3.50 in cash and 0.525 shares of IDT
common stock for each share of PLXT stock.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The definitive merger agreement involves a cash and stock transaction
with a total equity value of approximately $330 million.
The investigation centers on whether PLXT's shareholders are receiving
adequate compensation for their shares in the buyout, whether the
transaction undervalues PLXT's stock, and whether PLXT's board attempted
to obtain the highest share price for all shareholders prior to agreeing
to the deal. Specifically, at least one analyst with Yahoo! Finance has
estimated that the true inherent value of PLXT is $5.00 per share. Based
on this, and other factors, the firms are investigating whether the
acquisition price is fair and adequate for PLXT's shareholders.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
© Business Wire 2012
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