Kendall Law Group, led by former federal judge Joe Kendall, is investigating Conexant Systems, Inc. (NASDAQ: CNXT) for shareholders in connection with the proposed acquisition by Standard Microsystems Corporation. The national securities firm’s investigation seeks to determine whether Conexant and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Conexant shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On January 10, 2011, the companies announced the definitive merger agreement under which Conexant would be acquired by Standard Microsystems Corporation, in a transaction valued at approximately $98 million. Under the terms of the agreement, Conexant stockholders will receive $1.125 in cash and $1.125 in Standard Microsystems Corporation (NASDAQ: SMSC) stock for each share of Conexant/CNXT common stock held. The offer price represents a 19% premium to Conexant’s Friday closing price of $1.89 a share. The firm seeks to determine whether the transaction is in the best interest of Conexant shareholders.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.