SHAREHOLDER ALERT: Lundy Law Commences An Investigation Into The Proposed Acquisition Of OmniVision Technologies, Inc.
May 05 2015 - 03:00AM
Business Wire
Lundy Law is investigating potential claims against the Board of
Directors of OmniVision Technologies, Inc. (“OmniVision” or the
“Company”) (NASDAQ: OVTI) for possible breaches of fiduciary duty
and other violations of law in connection with the proposed sale of
the Company to a consortium composed of Hua Capital Management Co.,
Ltd. (“Hua Capital Management”), CITIC Capital Holdings Limited
(“CITIC Capital”), and GoldStone Investment Co., Ltd. (“GoldStone
Investment”) (collectively, the “Consortium”). Under the terms of
the agreement, OmniVision stockholders will receive $29.75 per
share in cash, or a total of approximately $1.9 billion.
Among other things, the investigation concerns whether the
proposed transaction undervalues the Company and whether the Board
of Directors of OmniVision is achieving the best possible value for
OmniVision shareholders. For example, analysts have recently given
their opinion that the Company is worth at least $35 per share.
Moreover, OmniVision CEO Shaw Hong is expected to remain with
OmniVision in the same capacity following the proposed acquisition.
As such, Lundy Law’s investigation also concerns whether
OmniVision’s officers and directors are entering into this deal for
their own self-interests, at the expense of the Company’s
shareholders.
If you own shares of OmniVision common stock and wish to discuss
the legal ramifications of the investigation, or have any
questions, contact Lundy Law who will, without obligation or cost
to you, answer your questions. For more information you may contact
David Promisloff, co-counsel to Lundy Law directly at
1-800-LundyLaw, or visit
http://www.lundylaw.com/press-releases/OVTI.
Lundy Law has worked hard for more than 50 years to help injured
people get the results they need. In addition to shareholder
actions and class actions, Lundy Law practices in the areas of
personal injury, product liability, auto accident and workers’
compensation. Lundy Law has collected hundreds of millions of
dollars in settlements and successful verdicts for our clients.
With offices throughout the Delaware Valley and Lehigh Valley,
including Philadelphia, Cherry Hill, Wilmington, Bethlehem, and
Reading, we care about helping people, no matter how hard the
challenge.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
LUNDY LAW, LLPDavid M. Promisloff, Esq., Co-Counsel to Lundy
Law1-800-LundyLawInquiries@Lundylaw.com
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