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Finkelstein Thompson LLP Announces Investigation of Zoran Corp.

^{Published on 2011-02-22 13:11:18 - Market Wire}
 

WASHINGTON--([ BUSINESS WIRE ])--Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Zoran Corporation (aZorana or the aCompanya) (Nasdaq: ZRAN) concerning the Companya™s proposed merger with CSR PLC (aCSRa). Under the terms of the offer, Zoran shareholders will receive 1.85 ordinary shares of CSR in the form of American Depositary Shares for each share of Zoran common stock owned. In addition, CSR intends to return up to $240 million to shareholders through a share buyback program. The transaction is valued at approximately $679 million, and is expected to close in the second quarter of 2011.

The investigation is focused on the potential unfairness of the consideration to Zoran shareholders, the process by which the Board of Directors considered the transaction, and potential conflicts of interests among Board members. Indeed, Ramius LLC, holder of 9.3% of the Zorana™s outstanding shares, stated it believes that the transaction may undervalue the Company, and questions whether the sale was the result of a full and fair sale process to maximize value for all Zoran shareholders.

If you are interested in discussing your rights as a Zoran shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at [ contact@finkelsteinthompson.com ].

Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.

To learn more about Finkelstein Thompson LLP, please visit our web site at [ www.finkelsteinthompson.com ]. Attorney advertising. Prior results do not guarantee similar outcomes.