N@N

Law Office of Jonathan M. Stein, P.L. Investigates Possible Breach of Fiduciary Duty by the Board of Sonic Solutions

^{Published on 2010-12-23 07:16:25 - Market Wire}
 

BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Sonic Solutions (aSonic Solutionsa or the aCompanya) (Nasdaq: SNIC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Rovi Corporation in a stock and cash transaction. The enterprise value of the transaction is approximately $720 million and the per share value of Sonic common stock at signing of the agreement is $14.17.

The investigation involves whether the Board of Directors of Sonic Solutions breached their fiduciary duties to Sonic Solutions stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether Sonic Solutions has disclosed all material information to shareholders about the proposed transaction. Specifically, according to Yahoo Finance, analysts that follow the Company have a median target price of $15.00 per share, and one analyst has set a target price of $17.00 per share.

If you own stock in Sonic Solutions and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at (561) 961-2244.

The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.