CAMD California Micro Devices Corp. (MM)

Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of California Micro Devices Corp. (“CAMD” or the “Company”) (Nasdaq: CAMD) related to the proposed acquisition by On Semiconductor Corp. (Nasdaq: ONNN).

Under the terms of the transaction, CAMD stockholders will receive $4.70 in cash for each share of CAMD common stock they own. The transaction is valued at approximately $103 million. The investigation concerns whether the board breached their fiduciary duties by agreeing to various deal protections that may prevent other superior offers. These protections include a no-solicitation provision, the board’s agreement to pay a $3.475 million termination fee payable if the Company breaches its non-solicit obligations, the offer does not close by a 3.5 month “drop-dead” date, the merger agreement is terminated by either party, a third party acquisition proposal has not been withdrawn, and any third party deal is signed within twelve months of the termination.

If you are a CAMD shareholder and wish to discuss the legal ramifications of the Board’s actions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, 9595 Wilshire Blvd., Suite 900, Beverly Hills, CA 90212, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.

California Micro Devices Corp. (MM) (NASDAQ:CAMD)
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