Energy News / Shareholders Foundation, Inc.

NASDAQ:MSCC Investor Alert: Lawsuit Filed Against Acquisition of Microsemi Corporation

Via: ReleaseWire

Updated 11:45 AM CDT, Wed, May 02,2018

A lawsuit was filed for investors in shares of Microsemi Corporation (NASDAQ:MSCC) in connection with the proposed takeover and NASDAQ:MSCC stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 05/02/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Microsemi Corporation (NASDAQ:MSCC), filed a lawsuit against the acquisition of Microsemi Corporation by Microchip Technology Incorporated for $68.78 per share.

Investors who purchased shares of Microsemi Corporation (NASDAQ:MSCC) and currently hold any of those NASDAQ:MSCC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MSCC stockholders by agreeing to sell Microsemi Corporation cheaply via an unfair process.

Aliso Viejo, CA based Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance.

On March 1, 2018, Microchip Technology Incorporated (NASDAQ: MCHP) and Microsemi Corporation (NASDAQ:MSCC) announced that the two companies have signed an agreement pursuant to which Microchip Technology Incorporated will acquire Microsemi for $68.78 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ:MSCC shareholders will receive is grossly inadequate and undervalues Microsemi Corporation. Indeed, at least one analyst has set the high target price for NASDAQ:MSCC shares at $70.00 per share. Microsemi Corporation reported that its Total Revenue rose from over $1.65 billion for the 52 weeks period that ended on October 2, 2016 to over $1.81 billion for the 52 weeks period that ended on October 1, 2017 and that its Net Loss of $32.60 million for the 52 weeks period that ended on October 2, 2016 turned to a Net Income of $176.30 million for the 52 weeks period that ended on October 1, 2017.

In addition, the plaintiff alleges that the process is also unfair NASDAQ:MSCC stockholders. Indeed

Those who are current investors in Microsemi Corporation (NASDAQ:MSCC) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqmscc-investor-alert-lawsuit-filed-against-acquisition-of-microsemi-corporation-971402.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com