NEW YORK, Feb. 15, 2017 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of GigPeak Inc. (NYSE:
GIG)("GIG" or the "Company") in connection with the proposed
acquisition of the Company by Integrated Device Technology, Inc.
("Integrated Device") for $250
million. Under the terms of the agreement, the
Company's shareholders will receive $3.08 in cash for each GIG share they own.
WeissLaw is investigating whether GIG's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $4.00 per share, or nearly $1.00 above the per-share consideration.
Additionally, GIG recently announced record financial results,
reporting an astonishing 45% increase in revenue, from $40.4 million in fiscal year 2015 to $58.7 million in the following year.
Given these facts, WeissLaw is investigating whether GIG's Board
acted in the best interests of GIG's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own GIG shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website, http://www.weisslawllp.com/gigpeak-inc/
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SOURCE WeissLaw LLP