TMCnet News
Integrated Device (IDTI) Alert: Johnson Fistel Investigates Proposed Sale of Integrated Device Technology, Inc.; Is $49 a Fair Price?SAN DIEGO, Sept. 11, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Integrated Device Technology, Inc. (NASDAQ: IDTI) ("IDT") breached their fiduciary duties in connection with the proposed sale of the Company to Renesas Electronics. IDT designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, consumer, automotive, industrial, and industrial end-markets. On September 11, 2018, IDT announced that it had signed a definitive merger agreement with Renesas Electronics. Under the terms of the agreement, IDT stockholders will receive $49 per share in cash. The investigation concerns whether the IDT board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for IDT shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given Wall Street analysts' projections for IDT's future earnings and revenuegrowth. If you are a shareholder of IDT and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number. Additionally, you can [click here to join this action]. There is no cost or obligation to you. About Johnson Fistel, LLP: Contact: [click here to join this action] View original content:http://www.prnewswire.com/news-releases/integrated-device-idti-alert-johnson-fistel-investigates-proposed-sale-of-integrated-device-technology-inc-is-49-a-fair-price-300710301.html SOURCE Johnson Fistel, LLP |