30 Mar, 2021, 15:39 ET
NEW YORK, March 30, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX) in connection with the proposed acquisition of the Company by Wise Road Capital LTD ("Wise Road"). Under the terms of the acquisition agreement, the Company's shareholders will receive $29.00 per share in cash for each share of MagnaChip that they hold. The transaction is valued at approximately $1.4 billion.
If you own MagnaChip shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether MagnaChip's board acted in the best interest of MagnaChip's public shareholders in agreeing to the proposed transaction, whether the $29.00 per-share merger consideration adequately compensates MagnaChip's shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to MagnaChip's public shareholders. Notably, at least one analyst has set a price target for the Company as high as $30 per share, $1 more than the proposed merger consideration.
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 [email protected]
SOURCE WeissLaw LLP
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