Kendall Law Group Investigates Virage Logic Corp. Merger for Shareholders
June 14 2010 - 4:10PM
Business Wire
Kendall Law Group, a national securities firm, is investigating
Virage Logic Corp. (NASDAQ: VIRL) for shareholders in connection
with the proposed sale of the Company to Synopsys, Inc. The firm’s
investigation seeks to determine whether Virage and its Board
breached their fiduciary duties by entering into the agreement
without properly shopping for a deal that would provide better
value for shareholders. If you are a Virage shareholder and would
like additional information about your rights, contact the Kendall
Law Group at 877-744-3728 or by email at
skendall@kendalllawgroup.com.
The companies announced on June 10, 2010 that they had entered
into an agreement for Virage to be acquired by Synopsys in a
transaction valued at approximately $289 million net of cash
acquired. Under the terms of the agreement, Virage will be acquired
in an all cash transaction in which Virage stockholders will
receive $12 for each share of common stock owned. On May 5, 2010,
Virage president and CEO, Alex Shubat, announced record revenues in
the first and second fiscal quarters of 2010 and projected even
higher revenues for the third quarter. At least one financial
analyst cited by Thomson Reuters has set a price target of $15.85
per share of Virage common stock.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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