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Murray, Frank & Sailer LLP Investigates Breaches Of Fiduciary Duty Regarding Acquisition Of Zoran Corporation By CSR plc.

  //science-technology.news-articles.net/content/2 .. acquisition-of-zoran-corporation-by-csr-plc.html
  Published in Science and Technology on Tuesday, February 22nd 2011 at 13:50 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--Murray, Frank & Sailer LLP is investigating claims of breach of fiduciary duty by certain members of the board of directors of Zoran Corporation (Nasdaq: ZRAN) (aZorana or the aCompanya) in relation to the acquisition of the Company by CSR plc (aCSR)a.

On February 21, 2011, Zoran and CSR announced that CSR will acquire Zoran pursuant to a transaction under which Zoran stockholders will receive 1.85 American Depositary Shares of CSR in exchange for each share of Zoran common stock, an aggregate value of approximately $679 million. The companies stated that the amount represents a premium of approximately 40% over the closing price of the stock on February 18, 2011. In addition, CSR plans to expand an existing share buyback from $50 million to $240 million.

The investigation concerns whether certain members of the board of directors breached their fiduciary duty in connection with their efforts to sell Zoran to CSR at an inadequate price through an unfair process which significantly undervalues the Company.

If you are a current investor in Zoran, who purchased ZRAN shares before February 21, 2011, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Bridget Hamill or Greg Linkh at (800) 497-8076 or (212) 682-1818, or by email at [ investigations@murrayfrank.com ].