Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of California Micro Devices Corp. - CAMD
December 14 2009 - 10:26AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
California Micro Devices Corp. (“CAMD” or the “Company”) (NasdaqGM:
CAMD) for possible breaches of fiduciary duty and other violations
of state law in connection with their attempt to sell the Company
to On Semiconductor Corp. ("On Semi") (NasdaqGS: ONNN). Under the
terms of the deal, CAMD shareholders will receive $4.70 in cash for
each CAMD share they own for a total transaction value of
approximately $103 million.
The investigation concerns whether the CAMD Board of Directors
breached their fiduciary duties to CAMD stockholders by failing to
adequately shop the Company before entering into this transaction
and whether On Semi is underpaying for CAMD shares, thus unlawfully
harming CAMD stockholders. The offer price is substantially below
the $6.00 per share price target set by at least one analyst.
If you own common stock in CAMD and wish to obtain additional
information, please contact us at the number listed below or visit
http://www.zlk.com/camd1.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
California Micro Devices Corp. (MM) (NASDAQ:CAMD)
Historical Stock Chart
From Jun 2024 to Jul 2024
California Micro Devices Corp. (MM) (NASDAQ:CAMD)
Historical Stock Chart
From Jul 2023 to Jul 2024