Science & Technology
Tue, January 18, 2011Mon, January 17, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011Mon, January 10, 2011Fri, January 7, 2011Thu, January 6, 2011Wed, January 5, 2011Tue, January 4, 2011Mon, January 3, 2011Fri, December 31, 2010Thu, December 30, 2010Wed, December 29, 2010Tue, December 28, 2010Mon, December 27, 2010Fri, December 24, 2010Thu, December 23, 2010Wed, December 22, 2010Tue, December 21, 2010Mon, December 20, 2010Sun, December 19, 2010Sat, December 18, 2010Fri, December 17, 2010Atheros Communications Inc. Shareholder Investigation by Briscoe Law Firm Concerning Qualcomm Inc. Acquisition
Published in Science and Technology on Thursday, January 6th 2011 at 4:46 GMT by Market Wire
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 securities litigation law firm of [ Powers Taylor LLP ] are investigating potential legal claims against the Board of Directors of [ Atheros Communications Inc. ] (aAtherosa or aATHRa) (NASDAQ: ATHR) related to the proposed buyout of Atheros by Qualcomm Incorporated (NASDAQ: QCOM). The investigation relates to the fairness of the proposed transaction to Atheros shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Atheros for approving this transaction, and whether Atherosa™ Board of Directors acted in the shareholdersa™ best interests.
The definitive acquisition agreement involves a transaction valued at approximately $3.1 billion, which is expected to close in the first half of 2011. Under the proposed buyout, Atheros shareholders will receive a cash payment of $45.00 for each share of Atheros/ATHR common stock they hold. Atherosa™ current president and CEO, Dr. Craig H. Barratt, is expected to be appointed as the president of Qualcomm Network & Connectivity after the acquisition closes. Although the acquisition price represents a small premium above Atherosa™ closing price the day before the announcement, Atheros stock traded over $43 per share as recently as April 2010, and recent news reports have commented on Atherosa™ shares increasing in value approximately 50% since their lows in September 2010. Based on these and other factors, the firms believe that the acquisition price may not be fair for the shareholders.
If you currently own shares of Atheros/ATHR and would like additional information regarding this investigation, or if you have information regarding the allegations involved in 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 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.
