Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Faruqi & Faruqi, LLP Announces the Investigation of Broadcom Corporation (BRCM) Over the Proposed Sale of the Company to Avago Technologies
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Broadcom Corporation (“Broadcom” or the “Company”) (NASDAQ: BRCM) for potential breaches of fiduciary duties in connection with the sale of the Company to Avago Technologies for approximately $37 billion.
Broadcom shareholders will have several options for the consideration they opt to receive, including: (i) $54.50 in cash; (ii) 0.4378 ordinary shares in a newly-formed Singaporean holding company ("HoldCo"); (iii) a restricted equity security that is the economic equivalent of 0.4378 ordinary shares of HoldCo that will not be transferable or saleable for a period of one to two years after closing; or (iv) a combination thereof.
The values offered are less than at least one Broadcom price target, which is set at $63.00. Moreover, the Company’s stock has traded at higher than $54.50 over the past year.
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