SAN DIEGO, June 15, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of QLogic Corporation (NASDAQ: QLGC)
breached their fiduciary duties in connection with the proposed
sale of the Company to Cavium, Inc. (NASDAQ: CAVM).
Additional Information:
QLogic designs high performance server and storage networking
connectivity products that provide, enhance and manage computer
data communication.
On June 15, 2016, QLogic announced
it had signed a definitive merger agreement with Cavium. Under the
terms of the agreement, QLogic stockholders will receive
$15.50 per share, comprised of
$11.00 per share in cash and 0.098 of
a share of Cavium common stock for each share of QLogic common
stock. The stock value is approximately $4.50 per share, this based on the volume
weighted average Cavium trading price for the three trading days
beginning June 10, 2016. QLogic
shareholders will be subject to the future volatility and price
fluctuation of Cavium's stock.
The investigation concerns whether the QLogic board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for QLogic
shares of common stock. Nationally recognized Johnson &
Weaver is investigating whether the proposed deal price represents
adequate consideration.
If you are a shareholder of QLogic and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please
include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP