SAN DIEGO, Feb. 14, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of GigPeak, Inc. (NYSE MKT: GIG) breached their fiduciary duties in connection with the proposed sale of the Company to Integrated Device Technology, Inc. GigPeak provides semiconductor ICs and software solutions for high-speed connectivity and video compression over the network and the cloud.
On February 14, 2017, GigPeak announced it had signed a definitive merger agreement with Integrated Device. Under terms of the agreement, Integrated Device will acquire all of the outstanding shares of GigPeak for $3.08 per share.
The investigation concerns whether the GigPeak 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 GigPeak 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, one Wall Street analyst has a $4.00 price target.
If you are a shareholder of GigPeak 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 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