(IPHI): Johnson Fistel Investigates Proposed Sale of Inphi; Are Shareholders Getting a Fair Deal?
Oct 29, 2020, 08:35 ET
SAN DIEGO, Oct. 29, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Inphi Corporation (NASDAQ: IPHI) breached their fiduciary duties in connection with the proposed sale of the Company to Marvell Technology Group Ltd. (NASDAQ: MRVL) ("Marvell").
On October 29, 2020, Inphi announced that it had entered into a definitive merger agreement with Marvell. Under the deal, Marvell will give Inphi shareholders $66 in cash and 2.32 shares of stock in the combined company for each share of Inphi. Upon closing of the transaction, Inphi stockholders will own approximately 17% of the combined company.
The investigation concerns whether the Inphi board failed to satisfy its 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 Inphi shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth. One Wall Street analyst had a $164.00 price target on the stock.
If you are a shareholder of Inphi and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, 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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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