NEW YORK, Feb. 20, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Adesto
Technologies Corporation ("IOTS" or the "Company") (NASDAQ: IOTS)
in connection with the proposed acquisition of the Company by
Dialog Semiconductor plc ("Dialog"). Under the terms of the
acquisition agreement, shareholders will receive $12.55 for each IOTS share they own.
If you own IOTS shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/adesto-technologies-corporation/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether IOTS's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. The per-share offer price represents only a small
9% premium over the Company's September
12 trading price of $11.45.
In addition, the transaction is anticipated to accretive to
Dialog's earnings per share in the first full calendar year
following the close of the transaction. Dialog also expects
annual cost synergies of approximately $20
million, revenue synergies, and full year revenue of
approximately $118 million after the
close of the transaction.
Finally, the Company announced record financial results for the
third quarter of 2019. It reported revenue of $32 million, representing a remarkable increase
of 46.1% year-over-year when compared to the figures reported in
the same period of the previous year.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal
advice concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-adesto-technologies-corporation-301008807.html
SOURCE WeissLaw LLP