SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Hittite Microwave Corporation In Connection With The Proposed Sale Of The Company To Analog Devices, Inc.
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of Hittite Microwave Corporation
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Hittite Microwave Corporation (“Hittite” or “the Company”) (NasdaqGS: HITT) and other violations of state law by the board of directors of Hittite relating to the proposed buyout of the Company by Analog Devices, Inc. (“Analog Devices”). Under the terms of the transaction, Hittite shareholders will receive $78 in cash for each share of Hittite stock they own, representing a total approximate transaction value of $2 billion. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Analog Devices is underpaying for Hittite shares. If you currently own common stock of Hittite and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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.