The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of PLX Technology, Inc. In Connection With The Sale Of The Company To Integrated Device Technology, Inc.
Levi & Korsinsky is investigating the Board of Directors of PLX Technology, Inc. (“PLX” or the “Company”) (Nasdaq: PLXT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Integrated Device Technology, Inc. (“IDT”) (Nasdaq: IDTI). Under the terms of the agreement, PLX shareholders will receive $3.50 in cash and 0.525 shares of IDT stock for each PLX common share they own. Based on April 27, 2012 closing prices, this represents a value of approximately $7.00 per PLX share and a total transaction value of approximately $330 million.
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The investigation concerns whether the PLX Board of Directors breached their fiduciary duties to PLX stockholders by failing to adequately shop the Company before entering into this transaction and whether IDT is underpaying for PLX shares, thus unlawfully harming PLX stockholders.
If you own common stock in PLX and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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