WILMINGTON, Del., Dec. 2, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Spansion Inc. (NYSE: CODE)?
- Did you purchase any of your shares prior to December 1, 2014?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Spansion Inc. ("Spansion" or the "Company") (NYSE: CODE) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Cypress Semiconductor Corporation ("Cypress") (NASDAQ GS: CY), in a transaction valued at approximately $4 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/spansion-inc-code.
Under the terms of the proposal, public shareholders of Spansion would receive 2.457 shares of Cypress common stock for each share of Spansion they own. Based on Cypress's closing stock price on November 28, 2014, Spansion shareholders would have received consideration valued at approximately $26.04 per share.
The investigation concerns the Spansion's board of directors failed to adequately shop the Company and obtain the best possible value for Spansion's shareholders before entering into an agreement with Cypress.
If you own the common stock of Spansion and purchased your shares before December 1, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803; by telephone at (888) 969-4242; or by e-mail to [email protected], or at: http://www.rigrodskylong.com/investigations/spansion-inc-code.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
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SOURCE Rigrodsky & Long, P.A.