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WEISSLAW LLP: GigPeak Inc. Acquisition May Not Be in the Best Interests of GIG Shareholders

Mittwoch, 15.02.2017 18:57 von

PR Newswire

NEW YORK, Feb. 15, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of GigPeak Inc. (NYSE: GIG)("GIG" or the "Company") in connection with the proposed acquisition of the Company by Integrated Device Technology, Inc. ("Integrated Device") for $250 million.  Under the terms of the agreement, the Company's shareholders will receive $3.08 in cash for each GIG share they own.

WeissLaw is investigating whether GIG's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, at least one analyst set a target price of $4.00 per share, or nearly $1.00 above the per-share consideration.  Additionally, GIG recently announced record financial results, reporting an astonishing 45% increase in revenue, from $40.4 million in fiscal year 2015 to $58.7 million in the following year. 

Given these facts, WeissLaw is investigating whether GIG's Board acted in the best interests of GIG's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own GIG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/gigpeak-inc/

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/weisslaw-llp-gigpeak-inc-acquisition-may-not-be-in-the-best-interests-of-gig-shareholders-300408462.html

SOURCE WeissLaw LLP