Science & Technology
Science and Technology
Science and Technology
Fri, December 2, 2011
Thu, December 1, 2011 Block & Leviton LLP Investigates Magma Design Automation, Inc. for Possible Breaches of Fiduciary Duties
Block & Leviton LLP Investigates Magma Design Automation, Inc. for Possible Breaches of... -- BOSTON, Dec. 1, 2011 /PRNewswire/ --
Block & Leviton LLP Investigates Magma Design Automation, Inc. for Possible Breaches of Fiduciary Duties
BOSTON, Dec. 1, 2011 /PRNewswire/ -- Block & Leviton LLP is investigating whether the Board of Directors of Magma Design Automation, Inc. ("Magma" or the "Company") (NASDAQ: [ LAVA ]) breached their fiduciary duties in agreeing to sell the Company to Synopsis, Inc. in a transaction valued at $507 million.
The investigation centers on whether Magma's Board of Directors protected shareholder interests, and properly maximized shareholder value, by agreeing to sell the Company for only $7.35 per share when stock market analysts have set a median price for the Company at $8.00 per share and, in fact, at least one analyst having a target price of $11.00 per share.
If you own stock in Magma please contact us to discuss your rights with regard to this transaction or if you have any questions.
Jason M. Leviton, Esq.
(617) 398-5620
[ jason@blockesq.com ]
Scott Mays, Esq.
(617) 398-5640
[ scott@blockesq.com ]
The attorneys at Block & Leviton have more than 40 years of experience in representing individual and institutional investors in shareholder rights actions and throughout their careers have achieved significant recoveries for their clients.
This may constitute attorney advertising.
SOURCE Block & Leviton LLP
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