Rigrodsky & Long, P.A. announces a complaint alleging breaches of fiduciary duty and other violations of law has been filed in the Delaware Court of Chancery against the board of directors of Hittite Microwave Corporation (“Hittite” or the “Company”) (NASDAQ GS: HITT) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Analog Devices, Inc. (“Analog”) (NASDAQ GS: ADI), in a transaction valued at approximately $2 billion. Click here to learn more: http://www.rigrodskylong.com/investigations/hittite-microwave-corporation-hitt. Under the terms of the agreement, public shareholders of Hittite would receive $78.00 in cash for each share of Hittite they own. The complaint alleges that Hittite’s board of directors failed to adequately shop the Company and obtain the best possible value for Hittite’s shareholders before entering into an agreement with Analog. If you own the common stock of Hittite and purchased your shares before June 9, 2014, would like to learn more about these allegations, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/hittite-microwave-corporation-hitt. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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.