NEW YORK -- (Business Wire)

Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Magma Design Automation, Inc. (“Magma” or the “Company”) (NASDAQ:LAVA) concerning the proposed acquisition of Magma by Synopsis, Inc. in a cash transaction valued at $507 million.

The investigation concerns whether the board of directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Magma shareholders would receive $7.35 per share in cash. However, research analysts have set a median share price of $8.00 per share. One analyst has set a share price as high as $11.00 per share. Moreover, Magma traded over the offer price as recently as July 7, 2011, when it traded as high as $8.50.

Magma shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at gfbruckner@pomlaw.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at rrboyle@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.

The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

Contacts:

Pomerantz Haudek Grossman & Gross LLP
Rachelle R. Boyle, 212-661-1100 or 888-476-6529, ext. 237
rrboyle@pomlaw.com

Source: Pomerantz Haudek Grossman & Gross LLP