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PLX Technology Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg


Published on 2012-04-30 16:31:09 - Market Wire
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LOS ANGELES--([ ])--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of PLX Technology Inc. (aPLXa or the aCompanya) (NASDAQ: PLXT) related to the proposed acquisition of the Company by Integrated Device Technology Inc. (aIDTa). The cash-and-stock transaction is valued at approximately $330 million, which equates to $3.50 in cash plus 0.525 shares of IDT for every PLX share outstanding.

This investigation concerns whether the Board of Directors of PLX breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $2.78 on January 13, 2012 to $4.06 on April 27, 2012. Further, at least one analyst has set a target price for the Companyas stock at $5.00 per share.

If you are a shareholder of PLX, if you have information or would like to learn more about our investigation, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to [ shareholders@glancylaw.com ].

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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