SAN DIEGO, Dec. 8, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Sigma Designs, Inc. ("Sigma Designs") (NASDAQ: SIGM) breached their fiduciary duties in connection with the proposed sale of the Company to Silicon Labs (NASDAQ: SLAB). Sigma Designs provides integrated system-on-chip (SoC) solutions and intelligent platforms for use in various home entertainment and home control appliances.
On December 7, 2017, Sigma Designs announced that it had signed a definitive merger agreement with Silicon Labs. Under the terms, Silicon Labs will acquire Sigma Designs for $7.05 per share in a cash.
The investigation concerns whether the Sigma Designs 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 Sigma Designs shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given that the price target for one Wall Street analyst is $10.00 per share and Sigma Designs has over $60 million in cash and no long-term debt.
If you are a shareholder of Sigma Designs and believe the proposed buyout price is too low, or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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 http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP