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The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Sonic So

^{Published on 2010-12-23 14:46:16 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Sonic Solutions (Nasdaq: SNIC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Rovi Corporation (Nasdaq: ROVI). Sonic shareholders may choose to receive either $14.00 in cash or 0.2489 shares of Rovi common stock for each share tendered. The transaction has a total value of approximately $720 million.

The investigation concerns whether the Sonic Board of Directors breached their fiduciary duties to Sonic stockholders by failing to adequately shop the Company before entering into this transaction and whether Rovi is underpaying for Sonic shares, thus unlawfully harming Sonic stockholders. At least one analyst set a price target for Sonic stock at $17.00 per share and the median price target set by six analysts is $15.00 per share.

If you own common stock in Sonic and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/sonicsolutions.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.