Robbins Arroyo LLP: Acquisition of DTS, Inc. (DTSI) by Tessera Technologies, Inc. (TSRA) May Not Be in Shareholders' Best Int...
21 September 2016 - 8:25AM
Business Wire
Shareholder rights attorneys at Robbins Arroyo LLP are
investigating the proposed acquisition of DTS, Inc. (NASDAQ: DTSI)
by Tessera Technologies, Inc. (NASDAQ: TSRA). On September 20,
2016, the two companies announced the signing of a definitive
merger agreement pursuant to which Tessera will acquire DTS. Under
the terms of the agreement, DTS shareholders will receive $42.50
for each share of DTS common stock.
View this information on the law firm's Shareholder Rights
Blog:www.robbinsarroyo.com/shareholders-rights-blog/dts-inc
Is the Proposed Acquisition Best for DTS and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at DTS is undertaking a fair process to obtain maximum
value and adequately compensate its shareholders.
On August 8, 2016, DTS reported strong earnings results for its
second quarter 2016. DTS reported revenue of $48.7 million for the
three months ended June 30, 2016, a 41% increase from the same
period of the prior year. Additionally, DTS has beaten analyst
estimates for revenue, adjusted net income, and adjusted earnings
per share in three of the past four consecutive quarters. In
commenting on these results, DTS Chairman of the Board and Chief
Executive Officer Jon Kirchner remarked, "We had a strong second
quarter driven by solid performance in automotive and continued
momentum across the mobile markets…. As a result of this strong
performance, we are raising the low end of our full year 2016
revenue outlook and increasing our earnings outlook to reflect our
confidence in the second half of 2016. Importantly, our business
continues to generate improving operating margins and strong cash
flow, and we are focused on optimizing our balance sheet and cash
flow to generate value for shareholders."
In light of these facts, Robbins Arroyo LLP is examining DTS's
board of directors' decision to sell the company now rather than
allow shareholders to continue to participate in the company's
continued success and future growth prospects.
DTS shareholders have the option to file a class action lawsuit
to ensure the board of directors obtains the best possible price
for shareholders and the disclosure of material information. DTS
shareholders interested in information about their rights and
potential remedies can contact attorney Darnell R. Donahue at (800)
350-6003, ddonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160920006933/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
Dts, Inc. (NASDAQ:DTSI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Dts, Inc. (NASDAQ:DTSI)
Historical Stock Chart
From Aug 2023 to Aug 2024