SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of PLX Technology, Inc. (NASDAQ: PLXT), breached their fiduciary duties in connection with the proposed $309 million sale of the company to Avago Technologies Limited.
PLX Technology, Inc. designs, develops, manufactures, and sells integrated circuits worldwide.
On June 23, 2014, PLX Technology and Avago entered into an agreement whereby Avago will acquire PLX Technology. Under the terms of the agreement, PLX Technology shareholders will receive $6.50 per share in cash for each share of PLX they own.
Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed $6.50 per share deal price represents adequate consideration. PLX Technology stock traded at $6.91 in January 2014. Additionally, Wall Street analysts have an $8.00 per share price target.
If you are a shareholder of PLX Technology and believe (1) the proposed buyout price is too low and (2) you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. 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.