Brower Piven Announces Class Action Lawsuit in Connection With Claims of Breaches of Fiduciary Duty by the Board of Directors...
March 12 2014 - 12:58PM
The securities litigation firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the California Superior Court, Santa Clara County, on
behalf of all common stockholders of Supertex, Inc. ("Supertex" or
the "Company") (Nasdaq:SUPX) asserting claims that the members of
the Company's board of directors have breached fiduciary duties
they owe to Supertex shareholders.
Supertex recently announced that it has entered into a
definitive merger agreement to be acquired by Microchip Technology
Inc. ("Microchip"). According to the complaint, under the terms of
the proposed transaction, Supertex shareholders will receive $33
for each share of Supertex stock they own. The claims asserted in
the lawsuit concern whether the Company's Board of Directors
breached their fiduciary duties to stockholders by failing to
maximize shareholder value before agreeing to enter into this
transaction, and whether Microchip is underpaying for Supertex
shares.
If you currently own common stock of Supertex and would like to
learn more about the lawsuit, you may email or call Brower Piven,
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Brower Piven by email at
hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower
Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson,
Maryland 21153. The senior attorneys at Brower Piven have combined
experience litigating securities and other class action cases of
over 100 years.
CONTACT: Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com
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