SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of PLX Technology, Inc. - PLXT

NEW YORK, June 23, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of PLX Technology, Inc. ("PLX Technology" or the "Company") (NASDAQ: PLXT) (ISIN: US6934171074) (CUSIP: 693417107) concerning the proposed acquisition of PLX Technology by Avago Technologies Limited.

PLX Technology shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.

The investigation concerns whether the PLX Technology directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value.  Under the terms of the agreement, each share of PLX Technology will be exchanged for $6.50 in cash per share or a total transaction value of approximately $309 million, or $293 million net of cash and debt.  However, at least one Analyst has set a target price of $8.00 per share.  There are indications that the management team will stay with the new company and the stock traded above the offer price within the year.

Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 237
[email protected]

SOURCE Pomerantz LLP