BOSTON, Dec. 1, 2011 /PRNewswire/ -- Block & Leviton LLP is investigating whether the Board of Directors of Magma Design Automation, Inc. ("Magma" or the "Company") (NASDAQ: LAVA) breached their fiduciary duties in agreeing to sell the Company to Synopsis, Inc. in a transaction valued at $507 million.
The investigation centers on whether Magma's Board of Directors protected shareholder interests, and properly maximized shareholder value, by agreeing to sell the Company for only $7.35 per share when stock market analysts have set a median price for the Company at $8.00 per share and, in fact, at least one analyst having a target price of $11.00 per share.
If you own stock in Magma please contact us to discuss your rights with regard to this transaction or if you have any questions.
Jason M. Leviton, Esq.
Scott Mays, Esq.
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SOURCE Block & Leviton LLP