WeissLaw LLP: Integrated Silicon Solution Inc. Acquisition May Not Be In The Interest of ISSI Shareholders
NEW YORK, March 17, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Integrated Silicon Solution Inc. ("ISSI" or the "Company") by a Chinese consortium of investors led by Summitview Capital (the "Consortium") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of ISSI for unanimously approving the sale of the Company to the Consortium. On March 12, 2015, the Company announced a definitive agreement for its sales to the Consortium in a transaction valued at approximately $639.5 million. Under the terms of the agreement, ISSI shareholders will receive $19.25 in cash for each ISSI share owned, reflecting a premium of less than 10% over the Company's March 2, 2015 trading price of $17.56.
WeissLaw is investigating whether ISSI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the announcement, at least one analyst set a target price of $20.00 per share, or approximately $1.00 above the offer price.
Given these facts, WeissLaw is investigating the Board's decision to sell ISSI and whether ISSI shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own ISSI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
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] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP
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