STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of PLX Technology, Inc. (“PLX” or
the “Company”) (Nasdaq: PLXT) and other violations of state law by the
board of directors of PLX relating to the proposed buyout of the Company
by Avago Technologies Limited (“Avago”).
It was announced that PLX and Avago entered into a definitive merger
agreement pursuant to which Avago will acquire PLX in a merger valued at
approximately $309 million.
Under the terms of the transaction, shareholders of PLX will receive
$6.50 per share in exchange for each share of PLX stock they own.
According to Yahoo! Finance, at least one analyst has issued a
price target for PLX stock at $8.00 per share.
The firm’s investigation seeks to determine, among other things, whether
the Company’s board of directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into this
transaction, and whether Avago is underpaying for PLX shares.
If you currently own common stock of PLX 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.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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