NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of PMC-Sierra Inc. (“PMC” or the “Company”) (NasdaqGS:PMCS) for potential breaches of fiduciary duties in connection with the sale of the Company to Skyworks Solutions, Inc. for approximately $2 billion in a cash transaction.
The Company’s stockholders will only receive $10.50 for each share of PMC common stock they own. However, the offer is significantly lower than at least one analyst’s target price of $14.00 per share.
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The investigation focuses on whether PMC’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of PMC’s shareholders.
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If you own common stock in PMC and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/PMCS or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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