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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of California Micro Devices

  //science-technology.news-articles.net/content/2 .. of-shareholders-of-california-micro-devices.html
  Published in Science and Technology on Wednesday, January 6th 2010 at 21:01 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of California Micro Devices (Nasdaq:CAMD) related to its merger agreement with ON Semiconductor to acquire California Micro Devices in a cash transaction valued at approximately $108 million, based on common stock outstanding and issued.

Under the terms of the proposed transaction and related merger agreement, which has been approved by both boards of directors, ON Semiconductor commenced a tender offer on December 28, 2009, to purchase all outstanding shares of California Micro Devices common stock for $4.70 per share in cash. The agreement also provides that the parties effect, subject to the satisfaction or waiver of customary conditions, a merger following the completion of the tender offer, which will result in all shares of California Micro Devices common stock not tendered in the tender offer being converted into the right to receive the same $4.70 per share in cash paid in the tender offer. The companies expect the transaction to close in the first quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the California Micro Devices board of directors.

If you own shares of California Micro Devices, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].