An investigation on behalf of investors of Cypress Semiconductor Corporation (NASDAQ: CY) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 06/12/2019 -- An investigation was announced on behalf of investors, who currently hold shares of Cypress Semiconductor Corporation (NASDAQ: CY), concerning whether the takeover of Cypress Semiconductor is unfair to NASDAQ: CY stockholders.
Investors who purchased shares of Cypress Semiconductor Corporation (NASDAQ: CY) and currently hold any of those NASDAQ: CY shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Cypress Semiconductor Corporation breached their fiduciary duties owed to NASDAQ: CY investors in connection with the proposed acquisition.
San Jose, CA based Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. In early June Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) and Cypress Semiconductor Corporation (NASDAQ: CY) announced that the companies have signed a agreement under which Infineon will acquire Cypress for US$23.85 per share in cash, corresponding to an enterprise value of €9.0 billion.
However, the investigation concerns whether the offer is unfair to NASDAQ: CY stockholders. More specifically, the investigation concerns whether the Cypress Semiconductor Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Cypress Semiconductor Corporation reported that its annual Total Revenue rose from over $2.32 billion in 2017 to over $2.48 billion in 2018 and that its Net Loss of $80.91 million turned into a Net Income of $354.59 million in 2019.
Shares of Cypress Semiconductor Corporation (NASDAQ: CY) closed on June 11, 2019, at $22.12 per share.
Those who are current investors in Cypress Semiconductor Corporation (NASDAQ: CY) shares have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
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