IKANOS ALERT: Johnson & Weaver, LLP Investigates the Fairness of Price & Process in Proposed Sale of Ikanos Communications, I...
August 06 2015 - 8:31AM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of Ikanos
Communications, Inc. (NASDAQ: IKAN) breached their fiduciary duties
in connection with the planned merger of the Company with a
Qualcomm Incorporated subsidiary, Qualcomm Atheros, Inc. Ikanos
designs, develops, markets and sells semiconductors and integrated
firmware products for the connected home worldwide.
On August 6, 2015, Ikanos and Qualcomm announced that they had
entered into a definitive merger agreement. Qualcomm will acquire
all issued and outstanding shares of Ikanos common stock for $2.75
per share in cash.
The investigation concerns whether the Ikanos board failed to
satisfy their duties to the Company’s 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. Nationally recognized
Johnson & Weaver, which focuses its practice on shareholder
rights, is investigating whether the proposed deal price represents
adequate consideration, especially given the Company’s promise of
future revenue growth. Moreover, one Wall Street analyst has a
$5.00 price target on the stock which is far more than the $2.75
offer price.
If you are an Ikanos shareholder and are interested in
learning more about the investigation or your legal rights and
remedies, please contact Jim Baker
(jimb@johnsonandweaver.com) by email or by phone
at 619-814-4471. If emailing, please include a phone number where
you can be reached.
About Johnson & Weaver,
LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20150806005891/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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