An investigation on behalf of investors of QLogic Corporation (NASDAQ:QLGC) in connection with the proposed takeover was announced and NASDAQ:QLGC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/21/2016 -- The acquisition of QLogic is under investigation over potential wrongdoing by certain directors. The investigation was announced for investors, who currently hold NASDAQ:QLGC shares, concerning whether the takeover of QLogic Corporation by Cavium, Inc for a value of $15.50 per share is unfair to NASDAQ:QLGC stockholders.
Investors who purchased shares of QLogic Corporation (NASDAQ:QLGC) and currently hold any of those NASDAQ:QLGC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of QLogic Corporation breached their fiduciary duties owed to NASDAQ:QLGC investors in connection with the proposed acquisition.
On June 15, 2016, Cavium, Inc. (NASDAQ:CAVM) and QLogic Corporation (NASDAQ:QLGC) announced that they have entered into an agreement for Cavium to acquire all of the outstanding QLogic Corporation (NASDAQ:QLGC) common stock for approximately $15.50 per share, comprised of $11.00 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock through an exchange offer.
However, the investigation concerns whether the offer is unfair to NASDAQ:QLGC stockholders. More specifically, the investigation concerns whether the QLogic Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of QLogic Corporation (NASDAQ:QLGC) closed on June 17, 2016 at $14.85 per share.
Those who are current investors in QLogic Corporation shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com