NEW YORK, May 2, 2012 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of PLX
Technology, Inc. ("PLX" or the "Company") (Nasdaq: PLXT) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Integrated Device
Technology, Inc. ("IDT") (Nasdaq: IDTI). Under the terms of
the agreement, PLX shareholders will receive $3.50 in cash and 0.525 shares of IDT stock for
each PLX common share they own. Based on April 27, 2012 closing prices, this represents a
value of approximately $7.00 per PLX
share and a total transaction value of approximately $330 million.
(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO
)
Click here to learn how to join the action:
http://www.zlk.com/plx-technology-plxt, or call: 877-363-5972.
There is no cost or obligation to you.
The investigation concerns whether the PLX Board of Directors
breached their fiduciary duties to PLX stockholders by failing to
adequately shop the Company before entering into this transaction
and whether IDT is underpaying for PLX shares, thus unlawfully
harming PLX stockholders.
If you own common stock in PLX 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
http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in
New York and Washington D.C.
The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
The attorneys at Levi & Korsinsky have been appointed by
numerous courts throughout the country to serve as lead counsel on
behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to
contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
CONTACT:
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: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP