NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Sonic Solutions (Nasdaq: SNIC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Rovi Corporation (Nasdaq: ROVI). Sonic shareholders may choose to receive either $14.00 in cash or 0.2489 shares of Rovi common stock for each share tendered. The transaction has a total value of approximately $720 million.
The investigation concerns whether the Sonic Board of Directors breached their fiduciary duties to Sonic stockholders by failing to adequately shop the Company before entering into this transaction and whether Rovi is underpaying for Sonic shares. The median price target set by six analysts for Sonic stock is $15.00 per share and at least one analyst set a price target of $17.00 per share.
If you own common stock in Sonic and wish to obtain additional information, please contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/sonicsolutions.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.