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.
Thursday, November 5, 2015
Faruqi & Faruqi Investigation: Hutchinson Technology Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Hutchinson Technology Inc. (“Hutchinson” or the “Company”) (NasdaqGS:HTCH) for potential breaches of fiduciary duties in connection with the sale of the Company to TDK Corporation for approximately $221 million.
The Company’s stockholders will only receive $3.62 in cash per share (plus up to $0.38 per share in a possible additional consideration) of Company common stock they own. However, the offer is below both the median analyst price target of $4.00 per share and the 52-week high of $4.25 per share.
If you own common stock in Hutchinson and wish to obtain additional information and protect your investments free of charge, please contact Juan Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.