NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it is investigating the Board of Directors of Spansion, Inc. (NYSE: CODE) for possible breaches of fiduciary duty and other violations of law by failing to adequately shop Spansion to maximize shareholder value before agreeing to be acquired by Cypress Semiconductor Corp. (NASDAQ: CY).
If you would like to join the action, go to http://rosenlegal.com/cases-452.html or contact Phillip Kim or Kevin Chan, toll-free at 866-767-3653, or via e-mail at email@example.com or firstname.lastname@example.org. There is no cost or obligation to you.
Under the terms of the proposed transaction, shareholders will receive 2.457 Cypress shares for each share of Spansion they own. This equates to approximately $26.04 per Spansion share based on Cypress’s closing stock price on November 28, 2014. The proposed transaction is valued at approximately $4 billion. The investigation relates to whether the proposal is fair to the public shareholders of Spansion and whether Spansion’s Board breached its fiduciary duties in connection with the proposed sale.
If you currently own shares of Spansion and wish to obtain additional information, please visit the website at http://rosenlegal.com/cases-452.html. You may also contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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