Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Atheros Communications, Inc. (NASDAQ: ATHR) arising from the proposed acquisition of Atheros by Qualcomm Inc. (“Qualcomm”) (NASDAQ: QCOM).
Under the terms of the transaction, Atheros shareholders will receive $45 for each Atheros share. The transaction is expected to close in the first half of 2011.
Weiss & Lurie is investigating whether Atheros’ Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. In particular Atheros’ current president and CEO, Dr. Craig H. Barratt, is expected to join Qualcomm as president of Qualcomm Networking & Connectivity and Atheros insiders will be able to retain an interest in Qualcomm as each outstanding option to purchase Atheros common stock will be automatically converted into an option to purchase Qualcomm common stock and each outstanding restricted stock unit award for Atheros Common Stock will be automatically converted into a restricted stock unit award for Qualcomm common stock at the same conversion rate.
If you own Atheros shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at email@example.com or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.