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If you purchased shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) and currently hold any of those NASDAQ:MSPD 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 case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
November 12, 2013 (Shareholders Foundation) - An investor, who currently hold shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) filed a lawsuit in effort to halt the proposed takeover of Mindspeed Technologies, Inc. by/A-COM Technology Solutions Holdings, Inc. for $5.05 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MSPD stockholders arising out of the attempt to sell Mindspeed Technologies, Inc too cheaply via an unfair process to M/A-COM Technology Solutions Holdings, Inc
On November 5, 2013, Mindspeed Technologies, Inc. announced that it has entered into an agreement to be acquired by M/A-COM Technology Solutions Holdings, Inc. (Nasdaq:MTSI) for $5.05per share in a cash tender offer.
However, the plaintiff claims that the offer is too low and undervalues Mindspeed Technologies. Indeed, shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) traded as high as $5.23 as recently as February 2013 and that NASDAQ:MSPD shares traded in 2012 as high as$6.87 per share.
On November 8, 2013, NASDAQ:MSPD shares closed at $5.01 per share.