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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of LT

^{Published on 2010-11-18 09:55:46 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of LTX-Credence Corporation (aLTX-Credencea or the aCompanya) (Nasdaq: LTXC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Verigy Ltd. (aVerigya) (Nasdaq: VRGY). Under the terms of the agreement, LTX-Credence shareholders will receive a fixed exchange ratio of 0.96 shares of Verigy stock or Holdco stock for each share of LTX-Credence stock they own. Based on the prior day closing price of Verigy stock, the transaction values LTX-Credence stock at approximately $8.55 per share for a total transaction value of approximately $420 million.

Click here to learn how to join the action: [ http://www.zlk.com/ltx-credence-ltxc.html ], or call: 877-363-5972.

The investigation concerns whether the LTX-Credence Board of Directors breached their fiduciary duties to LTX-Credence stockholders by failing to adequately shop the Company before entering into this transaction and whether Verigy is underpaying for LTX-Credence shares, thus unlawfully harming LTX-Credence stockholders. In particular, the mean price target for LTX-Credence stock set by 5 analysts is $12.60 per share with at least one analyst setting a price target of $18 per share.

If you own common stock in LTX-Credence and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/ltx-credence-ltxc.html ].

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.

CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
[ www.zlk.com ]