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Rigrodsky & Long, P.A. Investigates Atheros Communications, Inc. Buyout

^{Published on 2011-01-05 18:40:27 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Atheros Communications, Inc. (aAtherosa or the aCompanya) (Nasdaq: [ ATHR ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Qualcomm Incorporated (aQualcomma) (Nasdaq: QCOM) in a transaction with an enterprise value of approximately $3.1 billion. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/AtherosCommunicationsInc-ATHR ].

"with our recently completed acquisition of Opulan, we further strengthened our networking product line, enabling us to address an even larger portion of the rapidly expanding global networking market."

Under the proposed agreement, Qualcomm will acquire all of the outstanding common shares of Atheros for $45.00 per share in cash. Furthermore, Atherosa™ current president and CEO, Craig H. Barratt, is expected to join Qualcomm as president of Qualcomm Networking & Connectivity.

The investigation concerns whether Atherosa™ board of directors failed to adequately shop the Company and obtain the best price possible for Atherosa™ shareholders before entering into the agreement with Qualcomm. On October 25, 2010, Atheros announced its third quarter 2010 results wherein it reported a[r]evenue in the third quarter of 2010 was a record $247.1 million, up 4 percent compared to $238.2 million reported in the second quarter of 2010. Third quarter 2010 revenue increased 58 percent compared to $156.6 million reported in the third quarter of 2009.a Indeed, Dr. Barratt commented, awith our recently completed acquisition of Opulan, we further strengthened our networking product line, enabling us to address an even larger portion of the rapidly expanding global networking market.a

If you own the common stock of Atheros and purchased your shares before January 5, 2011, 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 [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.