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Kendall Law Group Investigates Zoran Corp. for Shareholders

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  Published in Science and Technology on Tuesday, February 22nd 2011 at 7:25 GMT by Market Wire
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DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Zoran Corp. (NASDAQ:ZRAN) for shareholders in connection with the proposed acquisition by CSR plc. The national securities firma™s investigation seeks to determine whether Zoran and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Zoran shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On February 21, 2011, the companies announced the definitive merger agreement under which Zoran would be acquired by CSR, in a transaction valued at approximately $679 million. Under the terms of the agreement, Zoran stockholders will receive 1.85 American Depositary Shares of CSR for each share of Zoran/ZRAN common stock held. CSR also plans to expand an existing share buyback to $240 million from $50 million. The CSR shares have risen 34 percent in the last three months and fell sharply after the deal was announced. Due to these factors, the firm believes the transaction may be significantly undervaluing the company.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.