NEW YORK, Sept. 12, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of NetLogic Microsystems Inc. ("NetLogic" or the "Company") relating to potential breaches of fiduciary duty and other violations of law by its Board of Directors arising from the Company's acquisition by Broadcom Corp. in a deal valued at approximately $3.7 billion.
The investigation concerns whether the Company's Board of Directors is breaching its fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, shareholders would receive $50 per share in cash. However, at least one analyst has set a target price of $54.00 per share.
Shareholders of NetLogic seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at gfbruckner@pomlaw.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at 212-661-1100, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See http://www.pomerantzlaw.com/">www.pomerantzlaw.com.