Law Office Of Jonathan M. Stein, P.L. Investigates Possible Breach Of Fiduciary Duty By The Board Of LTX-Credence Corporation
The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of LTX-Credence Corporation ("LTX" or the "Company") (Nasdaq: LTXC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Verigy Ltd. (“Verigy”) (Nasdaq: VRGY). Under the terms of the proposed transaction, LTX shareholders are to receive 0.96 shares of Verigy for each share they own, for a total transaction value of approximately $420 million, or approximately $8.55 per LTX share.
The investigation involves whether the Board of Directors of LTX breached their fiduciary duties to LTX stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether LTX has disclosed all material information to shareholders about the proposed transaction. As recently as June 2010, LTX stock traded above $10.00 per share. Also, according to Yahoo Finance, the five analysts who follow the Company have an average target price of $12.60 per share, and one analyst has set a target price at $18.00 per share.
If you own stock in LTX and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at firstname.lastname@example.org or by telephone at (561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, www.jonathansteinlaw.com, and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.
|Jonathan M. Stein, Esq.|
|Law Office of Jonathan M. Stein, P.L.|
|120 E. Palmetto Park Rd., Suite 420|
|Boca Raton, FL 33432|
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