PLX Technology, Inc. Board of Directors under Investigation by Glancy Binkow & Goldberg LLP
LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP is investigating potential claims against the Board of Directors of PLX Technology, Inc. (“PLX” or the “Company”) (NASDAQ:PLXT) related to the proposed acquisition of the Company by Avago Technologies Ltd. The transaction is valued at roughly $309 million, or $6.50 per share.
This investigation concerns whether the Board of Directors of PLX breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $3.81 on January 2, 2013 to $6.28 on June 10, 2014. Further, at least one analyst has set a target price for the Company’s stock at $8 per share.
If you are a shareholder of PLX, if you have information or would like to learn more about our investigation, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.