San Diego, CA — 12/20/2017 — An investigation was announced on behalf of investors, who currently hold shares of Sigma Designs Inc (NASDAQ:SIGM), over the takeover of Sigma Designs Inc. by Silicon Labs.
Investors who purchased shares of Sigma Designs Inc (NASDAQ:SIGM) and currently hold any of those NASDAQ:SIGM shares have certain options and should contact the Shareholders Foundation at [email protected] or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Sigma Designs Inc breached their fiduciary duties owed to NASDAQ:SIGM investors in connection with the proposed acquisition.
Milpitas, CA based Sigma Designs, Inc. is a provider of global integrated semiconductor solutions. On December 7, 2017, Silicon Labs (NASDAQ: SLAB) and Sigma Designs Inc (NASDAQ:SIGM) announced an agreement under which Silicon Labs will acquire Sigma Designs Inc (NASDAQ:SIGM) for $7.05 per share in a cash transaction valued at approximately $282 million, subject to certain closing conditions.
However, the investigation concerns whether the offer is unfair to NASDAQ:SIGM stockholders. More specifically, the investigation concerns whether the Sigma Designs Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Sigma Designs Inc (NASDAQ:SIGM) closed on December 19, 2017 at $6.95 per share.
Those who are current investors in Sigma Designs Inc (NASDAQ:SIGM) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
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