Harwood Feffer LLP Announces Investigation of Magma Design Automation, Inc.
01 Diciembre 2011 - 1:58PM
Business Wire
Harwood Feffer LLP (www.hfesq.com)
is investigating potential claims against the board of directors of
Magma Design Automation, Inc. (“Magma” or the “Company”) (NASDAQ:
LAVA) concerning the proposed acquisition of the Company by
Synopsis, Inc. (“Synopsis”) in a transaction valued at $507
million.
On December 1, 2011, Magma announced that it had entered into a
definitive merger agreement pursuant to which the Company will be
acquired by Synposis. Under the terms of the agreement, Magma
shareholders will receive $7.35 per share in cash. Magma stock has
closed as high as $8.45 per share as recently as July 7, 2011.
Moreover, at least one analyst has set a price target of $11.00 per
share for Magma stock.
Our investigation concerns whether the board of directors has
breached its fiduciary duties by failing to adequately shop the
Company and whether the board undertook a fair process and obtained
fair consideration for Magma stockholders.
If you own Magma shares and wish to discuss this matter with us,
or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.Daniella Quitt, Esq.Benjamin
Sachs-MichaelsHarwood Feffer LLP488 Madison AvenueNew York, New
York 10022Phone Numbers: (877) 935-7400(212) 935-7400Email:
bsachsmichaels@hfesq.comWebsite: http://www.hfesq.com
Harwood Feffer has been representing individual and
institutional investors for many years, serving as lead counsel in
numerous cases in federal and state courts. Please visit the
Harwood Feffer LLP website (http://www.hfesq.com) for more
information about the firm.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
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