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Kendall Law Group Investigates Virage Logic Corp. Merger for Shareholders

^{Published on 2010-06-14 13:20:35 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm, is investigating Virage Logic Corp. (NASDAQ: VIRL) for shareholders in connection with the proposed sale of the Company to Synopsys, Inc. The firma™s investigation seeks to determine whether Virage and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Virage shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

The companies announced on June 10, 2010 that they had entered into an agreement for Virage to be acquired by Synopsys in a transaction valued at approximately $289 million net of cash acquired. Under the terms of the agreement, Virage will be acquired in an all cash transaction in which Virage stockholders will receive $12 for each share of common stock owned. On May 5, 2010, Virage president and CEO, Alex Shubat, announced record revenues in the first and second fiscal quarters of 2010 and projected even higher revenues for the third quarter. At least one financial analyst cited by Thomson Reuters has set a price target of $15.85 per share of Virage common stock.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.