SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of International Rectifier Corp. In Connection With The Proposed Sale Of The Company To Infineon Technologies AG
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 and other violations of state law by the Board of Directors of International Rectifier Corp. (“IRF” or the “Company”) (NYSE: IRF) relating to the proposed buyout of the Company by Infineon Technologies AG (“Infineon”).
On August 20, 2014, IRF and Infineon announced that they had signed a definitive agreement under which Infineon will acquire IRF in a transaction valued at approximately $3 billion. Under the terms of the transaction, IRF shareholders will receive $40 in cash for each share of IRF owned.
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 the transaction, and whether Infineon is underpaying for IRF shares.
If you currently own common stock of IRF 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.