Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Virage Logic Corporation
June 11 2010 - 9:00PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Virage Logic Corporation (“Virage” or the “Company”) (NASDAQ:VIRL)
related to the Company’s agreement to be acquired by Synopsys, Inc.
(“Synopsys”). The proposed cash transaction is valued at
approximately $315 million.
Under the terms of the agreement entered into by the parties,
Synopsys will pay Virage shareholders $12.00 in cash for share of
Virage stock they own. After the closing of the proposed
transaction, Virage will become part of Synopsys, and Virage stock
will cease trading. The transaction is expected to close in the
fourth quarter of Synopsys’ fiscal 2010. The investigation concerns
possible breaches of fiduciary duty and other violations of law
related to approval of the transaction by the Virage board of
directors.
If you own shares of Virage, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020
by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
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