Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of ZiLOG, Inc.
09 12월 2009 - 10:31AM
Business Wire
Attorney Advertising. Notice is hereby given that Stull, Stull
& Brody has commenced an investigation on behalf of
shareholders of the common stock of ZiLOG, Inc. (“ZiLOG” or the
“Company”) (Nasdaq:ZILG) for possible breaches of fiduciary duty
and other violations of state law in connection with an agreement
by the Company’s Board of Directors to allow the Company to be
acquired by IXYS Corporation (Nasdaq:IXYS) in a transaction valued
at approximately $3.58 in cash per ZiLOG common share, for
aggregate consideration of approximately $62.4 million.
The current investigation concerns the price to be paid by IXYS
to ZiLOG shareholders and the process by which ZiLOG’s Board of
Directors is addressing the transaction, including whether ZiLOG’s
Board of Directors breached its fiduciary duties to the Company’s
shareholders by agreeing to sell the Company at an unfair price.
Whereas ZiLOG’s shareholders will receive $3.58 per share under the
terms of the proposed transaction, that figure represents only a
small premium over the Company’s recent trading price of $3.12 per
share on November 30, 2009, and at least one analyst has set a
price target of $6 per ZiLOG common share, representing a
significant potential discount to IXYS. On October 28, 2009, ZiLOG
reported an increase in net sales of 12% over the previous quarter
and 23% over the second quarter of 2008. The increase exceeded the
Company’s previous guidance and was attributed to sales growth in
all regions and a rise in ongoing licensing royalties. The second
quarter of 2009 was the Company’s third consecutive quarter of GAAP
net income, reflecting increased margins, lower spending and
increased revenues.
If you own the common stock of ZiLOG and wish to obtain
additional information about this matter, please contact Aaron
Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983
or 1-212-687-7230, or by email to ssbny@aol.com or by writing to
Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.
Stull, Stull & Brody has litigated many class actions for
violations of securities laws and breaches of fiduciary duty on
behalf of defrauded investors over the past 40 years and has
obtained court approval of substantial settlements on numerous
occasions.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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