Virage Logic BoD Investigated for Breach in Synopsys Buyout!

By _Daniel Nenni

June 14, 2010

SEE COMMENTS, I STAND CORRECTED!

As a follow-on to my blog:  Synopsys Acquires Virage Logic:

Several independent investigations are in process on whether the Virage Board of Directors breached their fiduciary duties to Virage stockholders by failing to adequately shop the Company before entering into this transaction and whether Synopsys is underpaying for Virage shares, thus unlawfully harming Virage stockholders. In particular, at least one analyst set a price target for Virage stock at $15.85 per share and the median price target set by analysts is $14.43 per share. I told you $12 per share was a steal! $15.85 per share would be a fair premium in comparison to the premium Cadence paid for Denali.