NEW YORK, May 28, 2015 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Broadcom Corporation ("Broadcom" or the "Company") (NASDAQ: BRCM) for potential breaches of fiduciary duties in connection with the sale of the Company to Avago Technologies for approximately $37 billion.
Broadcom shareholders will have several options for the consideration they opt to receive, including: (i) $54.50 in cash; (ii) 0.4378 ordinary shares in a newly-formed Singaporean holding company ("HoldCo"); (iii) a restricted equity security that is the economic equivalent of 0.4378 ordinary shares of HoldCo that will not be transferable or saleable for a period of one to two years after closing; or (iv) a combination thereof.
The values offered are less than at least one Broadcom price target, which is set at $63.00. Moreover, the Company's stock has traded at higher than $54.50 over the past year.
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The investigation focuses on whether Broadcom's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Broadcom's shareholders.
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If you own common stock in Broadcom and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/BRCM or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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