Conexant Systems, Inc. Merger Litigation (Nasdaq: CNXT)
Law Office of Brodsky & Smith, LLC Announces Investigation of Conexant Systems, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Conexant Systems, Inc. (“Conexant” or the “Company”) (NASDAQ - CNXT - News) relating to the proposed acquisition by Standard Microsystems Corporation (“SMSC”). Including assumed debt, the proposed cash-and-stock transaction is valued at approximately $284 million.
Under the terms of the offer, Conexant shareholders would receive cash of $1.125 for each share of Conexant stock they own, as well a fractional share of SMSC common stock valued at $1.125. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that the $2.25 offer is less than half of the Company’s 52 week high of $5.17.
If you own shares of Conexant and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or by calling toll free 877-LEGAL-90.
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