SAN DIEGO, June 15, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of QLogic Corporation (NASDAQ: QLGC) breached their fiduciary duties in connection with the proposed sale of the Company to Cavium, Inc. (NASDAQ: CAVM).
QLogic designs high performance server and storage networking connectivity products that provide, enhance and manage computer data communication.
On June 15, 2016, QLogic announced it had signed a definitive merger agreement with Cavium. Under the terms of the agreement, QLogic stockholders will receive $15.50 per share, comprised of $11.00 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock. The stock value is approximately $4.50 per share, this based on the volume weighted average Cavium trading price for the three trading days beginning June 10, 2016. QLogic shareholders will be subject to the future volatility and price fluctuation of Cavium's stock.
The investigation concerns whether the QLogic board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for QLogic shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of QLogic and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP