BALA CYNWYD, PA / ACCESSWIRE / April 3, 2017 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Exar Corporation ("Exar" or the "Company") (NYSE:EXAR- News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to MaxLinear, Inc. ("MaxLinear").
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Under the terms of the transaction, Exar common shareholders will receive only $13.00 in cash for each share of Exar stock they own. The investigation concerns whether the Board of Exar breached their fiduciary duties to shareholders and whether MaxLinear is underpaying for the Company. The transaction may undervalue the Company and will deprive Exar shareholders from benefitting from the strength of the combined company. For example, following the announcement of the proposed acquisition, shares of MaxLinear stock soared to an all-time high. In addition, the amount being paid to Exar shareholders is below an analyst price target of $14.00/share.
If you own shares of Exar stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/exar-corporation-nyse-exar/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC