Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Microtune, Inc. ...
09 September 2010 - 12:18AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Microtune, Inc. (“Microtune” or the “Company”) (NasdaqGM: TUNE) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to Zoran
Corporation ("Zoran") (NasdaqGM: ZRAN). Under the terms of the
transaction, Microtune shareholders will receive $2.92 in cash for
each share of Microtune common stock they own for a total
transaction value of approximately $166 million.
The investigation concerns whether the Microtune Board of
Directors breached their fiduciary duties to Microtune stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Zoran is underpaying for Microtune shares,
thus unlawfully harming Microtune stockholders.
If you own common stock in Microtune and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500 or
visit http://www.zlk.com/microtune-tune.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
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