(TIVO) Alert: Johnson Fistel Investigates Proposed Sale of TiVo Corporation.; Are Shareholders Getting a Fair Deal?

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Dec 19, 2019, 09:09 ET

SAN DIEGO, Dec. 19, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of TiVo Corporation (NASDAQ: TIVO) ("TiVo") breached their fiduciary duties in connection with the proposed sale of the Company to Xperi Corp. ("Xperi").

On December 19, 2019, TiVo announced that it had signed a definitive merger agreement with Xperi. Under terms of the merger, TiVo and Xperi shares will be converted into shares of the new parent company at a fixed exchange ratio of 0.455 Xperi shares per existing TiVo shares. Based on Wednesday's stock closing prices, that values TiVo shares at about $9.53.

TiVo shareholders will be subject to the future price fluctuation of Xperi's stock price. Following the news, in pre-market trading on December 19, 2019, Xperi stock was trading down over 11%.

The investigation concerns whether the TiVo board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for TiVo shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth; also, one Wall Street analyst has a $25.00 price target on the stock. The 52-week high for TiVo was $11.78.

If you are a shareholder of TiVo and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, 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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP