Robbins Umeda LLP Announces an Investigation of the Acquisition of Virage Logic Corporation by Synopsys, Inc.
June 10 2010 - 4:20PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors of Virage Logic Corporation
("Virage" or the "Company") (NASDAQ: VIRL) in connection with their
actions in causing Virage to enter into a definitive merger
agreement to be acquired by Synopsys, Inc. ("Synopsys") (NASDAQ:
SNPS). If the transaction is completed, Virage shareholders will
receive $12.00 in cash for each share of Virage common stock they
hold. If approved, the transaction is expected to close in the
fourth quarter of Synopsys's fiscal 2010.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of Virage undertook a fair process to obtain fair
consideration for all shareholders of Virage. Of particular note is
that at least one analyst set a price target for Virage stock at
over $15 per share, $3 above the amount offered by Synopsys and
accepted by Virage's Board of Directors.
If you are a shareholder of Virage and would like more
information about your rights as a shareholder, please contact
attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at
inquiry@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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