BALA CYNWYD, Pa., June 16, 2016 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of QLogic
Corporation ("QLogic" or "the Company") (Nasdaq- QLGC-News) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Cavium, Inc.
("Cavium").
Click here to learn more about the investigation
http://brodsky-smith.com/1089-qlgc-qlogic-corporation.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, QLogic shareholders will
receive only $11.00 in cash and 0.098
of a share of Cavium common stock for each share of QLogic stock
they own. The investigation concerns whether the Board of
QLogic breached their fiduciary duties to shareholders and
whether Cavium is underpaying for the Company. The transaction may
undervalue the Company and would result in a loss or no real gain
for many long-term QLogic shareholders. For example, QLogic stock
traded at $15.88 per share on
June 5, 2015 and Cavium stock was
down 16.5% following the announcement of the transaction. In
addition, QLogic currently has $355
million in cash and no substantial debt.
If you own shares of QLogic stock and wish to discuss the legal
ramifications of the investigation, or have any questions,
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, Two Bala Plaza, Suite
510, Bala Cynwyd, PA 19004,
by visiting
http://brodsky-smith.com/1089-qlgc-qlogic-corporation.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
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SOURCE Brodsky & Smith, LLC