STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of PLX Technology, Inc. (“PLX” or the “Company”) (Nasdaq: PLXT) and other violations of state law by the board of directors of PLX relating to the proposed buyout of the Company by Avago Technologies Limited (“Avago”).
It was announced that PLX and Avago entered into a definitive merger agreement pursuant to which Avago will acquire PLX in a merger valued at approximately $309 million.
Under the terms of the transaction, shareholders of PLX will receive $6.50 per share in exchange for each share of PLX stock they own. According to Yahoo! Finance, at least one analyst has issued a price target for PLX stock at $8.00 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Avago is underpaying for PLX shares.
If you currently own common stock of PLX and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.