Vitesse Semiconductor Company’s acquisition by Microsemi Corporation has raised eyebrows among a number of financial professionals. The Peiffer Rosca Wolf law firm’s securities practice lawyers have launched an investigation on behalf of Vitesse investors to determine whether the investors will receive adequate value for their shares in the acquisition.
Microsemi Corporation (“Microsemi”) (NASDAQ: MSCC) acquired Vitesse Semiconductor Company (“Vitesse”) (NASDAQ: VTSS) for approximately $389 million. Under the agreement, each shareholder of Vitesse will receive $5.28 in cash for each share of common stock that they own. Shareholders and interested persons can obtain a copy of the Agreement and Plan of Merger at www.vitesseinvestigation.com
Typically, the board of directors of a company that is being purchased has a fiduciary duty to its own shareholders to maximize the sale price of each share. Financial professionals have questioned whether the acquisition price that Vitesse’s board agreed to was high enough. Barron’s columnist Tiernan Ray reported that David Williams and Cody Acree, both of whom are with Ascendiant Capital Markets, changed Vitesse shares to “Hold” and think that the agreed price is lower than what the stock should have garnered.
The attorneys at Peiffer Rosca Wolf Abdullah Carr & Kane have opened an investigation into the Vitesse Board of Directors regarding Vitesse’s acquisition by Microsemi. The investigation concerns whether the Board breached its fiduciary duties to maximize value for stockholders in the acquisition. Alan Rosca, Joe Peiffer, and the other attorneys at Peiffer Rosca Wolf Abdullah Carr & Kane represent individual and institutional investors who have suffered financial losses as a result of unlawful conduct by financial professionals.
Vitesse stockholders who would like to discuss the investigation or discuss about this matter may contact Alan Rosca, Joe Peiffer, or James Booker toll-free at 888-998-0520 or by email arosca@prwlegal.com, or by filling out the contact form on this page.
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Vitesse Investigation Investors Center
RandomThe Peiffer Rosca Wolf law firm’s securities lawyers, Alan Rosca and Joe Peiffer, are investigating whether Vitesse's proposed acquisition by Microsemi will provide adequate value per share to the Vitesse investors and whether or not the Vitesse Boa...
