SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Entropic Communications, Inc. And Encour...
February 04 2015 - 1:07PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Entropic Communications, Inc.
(“Entropic” or the “Company”) (Nasdaq: ENTR) relating to the
proposed buyout of the Company by MaxLinear, Inc.
(“MaxLinear”).
On February 3, 2015, Entropic and MaxLinear announced the
signing of a definitive agreement pursuant to which MaxLinear will
acquire Entropic in a transaction valued at approximately $287
million. Under the terms of the transaction, Entropic shareholders
are anticipated to receive $1.20 in cash and 0.22 of a MaxLinear
common share for each share of Entropic common stock. Based on
MaxLinear's closing stock price on February 2, 2015, Entropic
shareholders would have received consideration valued at
approximately $3.01 per share. The transaction is expected to close
in the second quarter of 2015, though Entropic shareholders will
most likely be asked to vote on the transaction well before that
time.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock. In particular, according to Yahoo! Finance, at least one
Wall Street analyst has issued a price target for Entropic stock at
$5.00 per share.
If you currently own common stock of Entropic and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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