Glancy Binkow & Goldberg LLP Announces Investigation of Advanced Analogic Technologies Incorporated
October 28 2011 - 8:20PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against Advanced Analogic
Technologies Incorporated (“AATI” or the “Company”) (NASDAQ:AATI)
concerning possible violations of federal securities laws. The
investigation focuses on allegations that certain statements issued
by the Company between May 26, 2011 and September 19, 2011,
relating to the Company’s May 26, 2011 announcement that it had
entered into a definitive agreement to be purchased (the “Merger
Agreement”) by Skyworks Solutions, Inc. (“Skyworks”) (NASDAQ:
SWKS), were false and misleading.
Specifically, the investigation relates to Skyworks' September
19, 2011 disclosure that it had delivered a notice of breach to
AATI pursuant to the Merger Agreement. On this news, shares of AATI
declined $0.69 per share, almost 15%. Subsequently, on September
26, 2011, Skyworks filed an arbitration petition against AATI in
the Delaware Court of Chancery asserting claims against AATI for
breach of the Merger Agreement and claims based on
misrepresentations by AATI to Skyworks dating from before the
signing of the Merger Agreement to the present, and seeking an
order: (i) declaring that Skyworks is relieved of its obligations
under the Merger Agreement; (ii) declaring that Skyworks is
entitled to terminate the Merger Agreement; and (iii) in the
alternative, awarding damages in an amount to be proven at final
hearing.
If you purchased AATI securities between May 26, 2011 and
September 19, 2011, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue
of the Stars, Suite 311, Los Angeles, California 90067, by
telephone at (310) 201-9150 or Toll Free at (888) 773-9224, by
e-mail to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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