A lawsuit was filed by an investor in shares of OmniVision Technologies Inc (NASDAQ: OVTI) in effort to stop the proposed takeover and NASDAQ: OVTI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 05/19/2015 --An investor, who currently holds shares of OmniVision Technologies Inc (NASDAQ: OVTI), filed a lawsuit in effort to stop the proposed takeover of OmniVision Technologies Inc by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd at $29.75 per share.

Investors who purchased shares of OmniVision Technologies Inc (NASDAQ: OVTI) and currently hold any of those NASDAQ: OVTI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: OVTI stockholders by agreeing to sell OmniVision Technologies Inc too cheaply via an unfair process.

On April 30, 2015 OmniVision Technologies Inc announced that it has entered into an agreement to be acquired by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd.. Under the terms of the agreement, OmniVision Technologies Inc (NASDAQ: OVTI) stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion.

However, the plaintiff claims that the proposed consideration NASDAQ: OVTI shareholders will receive is grossly inadequate and undervalues OmniVision Technologies Inc. Indeed, at least one analyst has set the high target price for NASDAQ:OVTI shares at $35.00 per share. OmniVision Technologies Inc reported that its Total Revenue rose from $897.73 million for the 12 months period that ended on April 30, 2012 to over $1.45 billion for the 12 months period that ended on April 30, 2014 and that its respective Net Income increased from $65.85 million to $95 million. Shares of OmniVision Technologies Inc (NASDAQ: OVTI) reached in April 2011 as high as $36.19 per share. In addition, the plaintiff claims that the process is also unfair to NASDAQ: OVTI stockholders

On May 15, 2015, NASDAQ: OVTI shares closed at $27.21 per share.

Those who are current investors in OmniVision Technologies Inc (NASDAQ: OVTI) 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