The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Standard Microsystems Corp. In Connection With The Sale Of The Company To Microchip Technology Inc.
Levi & Korsinsky is investigating the Board of Directors of Standard
Levi & Korsinsky is investigating the Board of Directors of Standard Microsystems Corp. (“Standard Microsystems” or the “Company”) (Nasdaq: SMSC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Microchip Technology Inc. (Nasdaq: MCHP). Under the terms of the agreement, Standard Microsystems shareholders will receive $37 per share. The transaction has a total approximate value of $939 million. Click here to learn how to join the action: http://www.zlk.com/standard-microsystems-smsc, or call: 877-363-5972. There is no cost or obligation to you. The investigation concerns whether the Standard Microsystems Board of Directors breached their fiduciary duties to Standard Microsystems stockholders by failing to adequately shop the Company before entering into this transaction and whether Microchip Technology Inc. is underpaying for Standard Microsystems shares, thus unlawfully harming Standard Microsystems stockholders. If you own common stock in Standard Microsystems and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org 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.
Standard Microsystems Corporation (Nasdaq:SMSC) hit a new 52-week high Wednesday as it is currently trading at $36.29, above its previous 52-week high of $28.25 with 8.7 million shares traded as of 10 a.m. ET. Average volume has been 129,600 shares over the past 30 days.
Shares of Standard Microsystems Corporation (Nasdaq:SMSC) were gapping up Wednesday morning with an open price 10.8% higher than Tuesday's closing price. The stock closed at $24.23 yesterday and opened today's trading at $26.85.