Science & Technology
Mon, February 28, 2011Sun, February 27, 2011Sat, February 26, 2011Fri, February 25, 2011Thu, February 24, 2011Wed, February 23, 2011Tue, February 22, 2011Mon, February 21, 2011Sun, February 20, 2011Fri, February 18, 2011Thu, February 17, 2011Wed, February 16, 2011Rigrodsky & Long, P.A. Investigates Buyout of Zoran Corporation - ZRAN
Published in Science and Technology on Tuesday, February 22nd 2011 at 9:10 GMT by Market Wire
WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Zoran Corporation (aZorana or the aCompanya) (Nasdaq: [ ZRAN ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by CSR PLC (aCSRa) (LSE: [ CSR.L ]) in a transaction with a total value of approximately $679 million. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/ZoranCorporation-ZRAN ].
Under the proposed agreement, Zoran shareholders will receive 1.85 ordinary shares of CSR in the form of American Depositary Shares (each an aADSa), for each share of Zoran common stock they hold. In addition, CSR announced that it intends to return up to $240 million to shareholders via an on-market share buyback program.
The investigation concerns whether Zorana™s board of directors failed to adequately shop the Company and obtain the best price possible for Zorana™s shareholders before entering into the agreement with CSR.
If you own the common stock of Zoran and purchased your shares before February 21, 2011, 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 [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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