NEW YORK, Feb. 4, 2015 /PRNewswire/ -- Levi & Korsinsky
is commencing an investigation into the Board of Directors of
Entropic Communications, Inc. ("Entropic" or "the Company")
(NASDAQ: ENTR) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to MaxLinear Inc. ("MaxLinear") (NYSE: MXL).
Click here to learn more about the investigation:
http://www.zlkdocs.com/ENTR-Info-Request-Form-ma-2615.
Under the terms of the transaction, Entropic shareholders
will receive $1.20 per share in cash and 0.2200 shares of
MaxLinear common stock for each Entropic common share they own.
Based on MaxLinear's closing stock price on February 2, 2015, the merger consideration is
valued at approximately $3.01 per
Entropic share. The implied total transaction value is
approximately $287 million and the
implied enterprise value is $181
million, net of Entropic's cash balance as of December 31, 2014. The investigation
concerns whether the Board of Entropic breached their fiduciary
duties to stockholders by failing to adequately shop the Company
before agreeing to enter into this transaction, and whether
MaxLinear is underpaying for Entropic shares. In particular, at
least one analyst set a price target for Entropic stock at
$5.00 per share.
If you own Entropic common stock and wish to obtain additional
information, please contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or visit
http://www.zlkdocs.com/ENTR-Info-Request-Form-ma-2615.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
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SOURCE Levi & Korsinsky, LLP