The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of McAfee, Inc. by Intel Corporation
August 19 2010 - 5:58PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of McAfee, Inc.
("McAfee" or the "Company") (NYSE: MFE) in connection with their
efforts to sell McAfee to Intel Corporation ("Intel") (NASDAQ:
INTC). If the transaction is completed, McAfee shareholders will
receive $48.00 in cash for each share of McAfee common stock they
hold.
Robbins Umeda LLP's investigation concerns whether the McAfee
Board undertook a fair process to obtain fair consideration for all
shareholders of McAfee. Specifically, our investigation concerns
whether the Company's Board breached their fiduciary duties to
McAfee shareholders by failing to adequately shop the Company
before entering into the transaction with Intel. At least one
analyst had a price target for the Company at $50 per share.
Additionally, under the terms of the agreement, McAfee must pay
Intel a $230 million termination fee if McAfee accepts a superior
offer to the Intel offer.
If you are a shareholder of McAfee, plan to continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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