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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Zoran Corporation, in Connection with the P

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  Published in Science and Technology on Tuesday, February 22nd 2011 at 16:35 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Zoran Corporation (aZorana or the aCompanya) (NASDAQ:ZRAN) related to the Companya™s agreement to be acquired by CSR PLC (aCSRa). The proposed stock-for-stock transaction is valued at approximately $679 million.

Under the terms of the merger agreement entered into by the parties, Zoran shareholders will receive 1.85 ordinary shares of CSR, in the form of American Depositary Shares, for each share they own of Zoran common stock. The transaction is expected to be completed in the second quarter of 2011. CSR announced that it intends to return up to $240 million to shareholders via an on-market share buyback program. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Zorana™s board of directors.

If you are a shareholder of Zoran, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].