NEW YORK, June 5, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Cypress Semiconductor Corporation ("CY" or the "Company") (NASDAQ: CY) in connection with the proposed acquisition of the Company by Infineon Technologies AG ("Infineon"). Under the terms of the agreement, CY shareholders will receive $23.85 in cash for each CY share they own.
If you are a shareholder of CY who wishes to discuss the investigation or have any questions about this notice and your rights or interests, please contact:
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WeissLaw is investigating whether CY's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the deal is a strategic transaction will (1) accelerate and strengthen Infineon's profitable growth; (2) broaden Infineon's business basis; (3) expand Infineon's portfolio to include a comprehensive range for linking the real with the digital world; and (4) develop additional growth potential in the automotive and industrial Internet of Things sectors.
Moreover, the Company recently reported positive financial results for the first quarter of 2019, reporting a 15% increase in overall design activity. According to the Company's President and CEO, CY "[d]elivered a solid first quarter with revenue, gross margin, and diluted EPS meeting or exceeding guidance."
Given these facts, WeissLaw is also investigating whether CY's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
SOURCE WeissLaw LLP