NEW YORK, June 9, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hittite Microwave Corporation ("Hittite" or the "Company") (NASDAQ: HITT) (ISIN: US43365Y1047) (CUSIP: 43365Y104) concerning the proposed acquisition of Hittite by Analog Devices, Inc. Hittite shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237. The investigation concerns whether the Hittite directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, each share of Hittite will be exchanged for $78.00 in cash. However, the Price to EBIT and Book Value multiples are below comparable transactions' averages. Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com. CONTACT: Robert Willoughby Pomerantz LLP 212-661-1100 ext. 237 email@example.com SOURCE Pomerantz LLP
Hittite Microwave (HITT) stock has been downgraded to "neutral" from "buy," D.A. Davidson said Tuesday. The firm said the recent bid from Analog Devices (ADI) to purchase the company for $78 a share will likely close as expected in August.