Science & Technology
Science and Technology
Science and Technology
Thu, September 9, 2010
Wed, September 8, 2010 The Briscoe Law Firm Investigates Microtune Inc.a?s Board Concerning the Acquisition of Microtune by Zoran Corporation
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ Microtune Inc ]. (aTUNEa or aCompanya) (NASDAQ: TUNE) related to the proposed acquisition of Microtune by [ Zoran Corporation ].
The agreement involves a transaction valued at approximately $166 million, under which Microtune shareholders will receive $2.92 in cash for each share ofTUNE common stock they hold. Although the proposed acquisition price represents a 19% premium over Microtunea™s closing price on September 7, 2010, at least one analyst has set a target price of $5.00 per share. In addition, due to the fact that Microtune stock has traded higher than the acquisition price this year, the proposed price appears to be unfair to Microtune shareholders.
The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Microtune for approving this transaction, whether the consideration to be received by Microtune shareholders is fair, and whether Microtunea™s Board of Directors acted in the shareholdersa™ best interests.
If you currently own shares of Microtune/TUNE and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
