An investigation on behalf of investors of LSI Corp (NASDAQ:LSI) in connection with the proposed takeover was announced and NASDAQ:LSI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/19/2013 -- An investigation on behalf of investors, who currently hold shares of LSI Corp (NASDAQ:LSI) shares, was announced concerning whether the takeover of LSI Corp by Avago Technologies Limited for $11.15 per share is unfair to NASDAQ:LSI stockholders.
Investors who purchased shares of LSI Corp and currently hold any of those NASDAQ:LSI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of LSI Corp breached their fiduciary duties owed to NASDAQ:LSI investors in connection with the proposed acquisition.
On December 16, 2013, Avago Technologies Limited and LSI Corp announced that they have entered into a agreement under which Avago will acquire LSI Corp for $11.15 per share in an all-cash transaction valued at $6.6 billion.
However, the investigation concerns whether the $11.15-offer is unfair to NASDAQ:LSI stockholders. More specifically, the investigation concerns whether the LSI 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.
LSI Corp reported that its annual Total Revenue rose from over $1.57 billion in 2009 to over $2.5 billion in 2012 and that its Net loss of $47.72 million turned into a Net Income of $196.23 million in 2012.
Shares of LSI Corp grew from $2.62 per share in early 2009 to as high as $8.745 per share on October 31, 2013.
On December 18, 2013, NASDAQ:LSI shares closed at $10.92 per share.
Those who are current investors in LSI Corp shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego