Science & Technology
Wed, May 2, 2012 
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of [ PLX Technology, Inc. ] (aPLXTa) (NASDAQ: PLXT) to Integrated Device Technology, Inc. (aIDTa) for shareholders. Under the purchase agreement, PLXTas shareholders will receive $3.50 in cash and 0.525 shares of IDT common stock for each share of PLXT stock.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The definitive merger agreement involves a cash and stock transaction with a total equity value of approximately $330 million.
The investigation centers on whether PLXTas shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues PLXTas stock, and whether PLXTas board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Specifically, at least one analyst with Yahoo! Finance has estimated that the true inherent value of PLXT is $5.00 per share. Based on this, and other factors, the firms are investigating whether the acquisition price is fair and adequate for PLXTas shareholders.
[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
