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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of DivX, Inc.

  //science-technology.news-articles.net/content/2 .. ation-on-behalf-of-shareholders-of-divx-inc.html
  Published in Science and Technology on Wednesday, July 21st 2010 at 19:00 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 DivX, Inc. (aDivXa or the aCompanya) (NASDAQ:DIVX) related to the Companya™s agreement to be acquired by Sonic Solutions (aSonica) in a proposed cash-and-stock transaction.

Under the terms of the definitive merger agreement entered into by the parties, DivX stockholders would receive a combination of cash and stock equal to $3.75 in cash and 0.514 shares of Sonic common stock for each DivX share they own. Upon completion of the transaction, Sonic would acquire all the outstanding shares of DivX and merge the Companya™s operations into those of Sonic, and DivX stockholders will own approximately 35% of the combined companya™s capital stock. The acquisition is expected to close in September 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by the DivX board of directors.

If you own shares of DivX, 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 ].