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If you purchased shares of InvenSense Inc (NYSE:INVN) and currently hold any of those NYSE:INVN shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
January 3, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of InvenSense Inc (NYSE:INVN), was announced concerning whether the takeover of InvenSense Inc by TDK Corporation for $13.00 per share is unfair to NYSE:INVN stockholders.
The investigation by a law firm concerns whether certain officers and directors of InvenSense Inc breached their fiduciary duties owed to NYSE:INVN investors in connection with the proposed acquisition.
On December 21, 2016, TDK Corporation and InvenSense Inc entered into an agreement today wherein TDK Corporation agrees to acquire all of the outstanding InvenSense Inc shares for cash at an acquisition price of USD 13.00 per InvenSense share, for a total acquisition price of USD 1.3 billion.
However, the investigation concerns whether the offer is unfair to NYSE:INVN stockholders. More specifically, the investigation concerns whether the InvenSense Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
InvenSense Inc reported that its Total Revenue rose from $372.02 million for the 52 weeks period that ended on March 29, 2015 to $418.39 million for the 53 weeks period that ended on April 3, 2016. Shares of InvenSense Inc (NYSE:INVN) reached as high as $25.85 per share in August 2014.
On January 3, 2017, NYSE:INVN shares closed at $12.79 per share.
