A lawsuit was filed for investors in shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) in effort to halt the proposed takeover and NASDAQ:MSPD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/13/2013 -- 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.
Investors who purchased shares of Mindspeed Technologies, Inc. (NASDAQ:MSPD) and currently hold any of those NASDAQ:MSPD shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
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.
Those who are current investors in Mindspeed Technologies, Inc. shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com