SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of OmniVision Technologies, Inc. And Encour...
May 06 2015 - 12:39PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of OmniVision Technologies, Inc.
(“OmniVision” or the “Company”) (Nasdaq: OVTI) relating to the
proposed buyout of the Company by a consortium of private equity
investors based in China.
Under the terms of the transaction, OmniVision shareholders are
anticipated to receive $29.75 in cash for each share of OmniVision
common stock held. The transaction may undervalue OmniVision and
may result in a substantial loss for many shareholders. For
example, according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for OmniVision stock at $35.00
per share, or $5.25 above the offer price.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of OmniVision and would like
to learn more about the investigation being conducted by Brower
Piven, without cost or obligation to you, please visit our website
at http://www.browerpiven.com/currentinvestigations.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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