SAN DIEGO, March 29, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Exar Corporation (NYSE: EXAR) breached their fiduciary duties in connection with the proposed sale of the Company to MaxLinear, Inc. Exar designs, develops and markets high-performance analog mixed-signal integrated circuits and sub-system solutions for the industrial and embedded systems, high-end consumer, and infrastructure markets worldwide.
On March 29, 2017, Exar announced it had signed a definitive merger agreement with MaxLinear. Under the terms of the agreement, MaxLinear will acquire all of the outstanding shares of Exar common stock for $13 per share in cash.
The investigation concerns whether the Exar 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 Exar shares of common stock. Given the Company's outlook for future revenue and earnings growth, nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; Moreover, Exar has over $200 million in cash. MaxLinear stated that it intends to fund the transaction with cash from the combined balance sheets.
If you are a shareholder of Exar and believe the proposed buyout price is too low and 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.
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