NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong is investigating the Board of Directors of Actel Corporation (NasdaqGM: ACTL) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Microsemi Corporation (“Microsemi”) (NasdaqGM: MSCC). Under the terms of the deal, Actel shareholders will receive $20.88 in cash for each share of Actel common stock for a total transaction value of approximately $430 million, net of Actel’s projected cash balance at closing.
The investigation concerns whether the Actel Board of Directors breached their fiduciary duties to Actel stockholders by failing to adequately shop the Company before entering into this transaction and whether Microsemi is underpaying for Actel shares, thus unlawfully harming Actel stockholders.
For the quarter ending July 4, 2010, the Company reported total revenues of $57.776 million and net income of $4.806 million as compared to total revenues and net income of $52.263 million and $2.938 million, respectively.
If you own common stock in Actel and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/actel-actl.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.