BALA CYNWYD, Pa., June 16, 2016 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of QLogic Corporation ("QLogic" or "the Company") (Nasdaq- QLGC-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Cavium, Inc. ("Cavium").
Click here to learn more about the investigation http://brodsky-smith.com/1089-qlgc-qlogic-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, QLogic shareholders will receive only $11.00 in cash and 0.098 of a share of Cavium common stock for each share of QLogic stock they own. The investigation concerns whether the Board of QLogic breached their fiduciary duties to shareholders and whether Cavium is underpaying for the Company. The transaction may undervalue the Company and would result in a loss or no real gain for many long-term QLogic shareholders. For example, QLogic stock traded at $15.88 per share on June 5, 2015 and Cavium stock was down 16.5% following the announcement of the transaction. In addition, QLogic currently has $355 million in cash and no substantial debt.
If you own shares of QLogic stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1089-qlgc-qlogic-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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SOURCE Brodsky & Smith, LLC