The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Microtune, Inc. by Zoran Corporation
08 Septiembre 2010 - 4:49PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of Microtune, Inc.
("Microtune" or the "Company") (NASDAQ: TUNE) in connection with
their efforts to sell Microtune to Zoran Corporation ("Zoran")
(NASDAQ: ZRAN). If the transaction is completed, Microtune
shareholders will receive $2.92 in cash for each share of Microtune
common stock they hold. The transaction is expected to close in the
fourth quarter of the year.
Robbins Umeda LLP's investigation concerns whether the Microtune
Board undertook a fair process to obtain fair consideration for all
shareholders of Microtune. Specifically, our investigation concerns
whether the Company's Board breached their fiduciary duties to
Microtune shareholders by failing to adequately shop the Company
before entering into the transaction with Zoran. Notably, at least
one analyst set a price target for the Company at $5.00 per
share.
If you are a shareholder of Microtune, plan to continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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