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Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of SMART Modular Technologie

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  Published in Science and Technology on Tuesday, April 26th 2011 at 9:55 GMT by Market Wire
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BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of SMART Modular Technologies (WWH), Inc. ("SMART" or the "Company") (Nasdaq:SMOD) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to Silver Lake Partners and Silver Lake Sumeru. Under the terms of the proposed transaction, SMART shareholders are to receive $9.25 in cash for each share they own, for a total transaction value of about $645 million.

The investigation involves whether the Board of Directors of SMART breached their fiduciary duties to SMART stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether SMART has disclosed all material information to shareholders about the proposed transaction. Of particular interest, SMART shares have increased over 42% just this year, from $5.76 on December 31, 2010 to $8.18 on April 25, 2011, and according to Yahoo Finance, at least one analyst has set a price target of $11.00 per share for SMART stock. Further, Ajay Shah, a Director and the Chairman of the Board of SMART, is also the founder and Managing Director of the Silver Lake Sumeru Fund.

If you own stock in SMART and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at (561) 961-2244.

The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.