SAN DIEGO, Nov. 21, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Applied Micro Circuits
Corporation (NASDAQ: AMCC) breached their fiduciary duties in
connection with the proposed sale of the Company to MACOM
Technology Solutions Holdings, Inc. Applied Micro provides silicon
solutions for next-generation cloud infrastructure and data
centers.
On November 21, 2016, Applied
Micro announced it had signed a definitive merger agreement with
MACOM. Under the terms of the agreement, Applied Micro shareholders
will receive approximately $8.36 per
share, consisting of $3.25 in cash
and 0.1089 MACOM shares per share of Applied Micro.
The investigation concerns whether the Applied Micro board
failed to satisfy their 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 Applied Micro shares of common stock. Nationally recognized
Johnson & Weaver is investigating whether the proposed deal
price represents adequate consideration; especially given
that the price target for one Wall Street analyst is $11.00.
If you are a shareholder of Applied Micro and believe the
proposed buyout price is too low and you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471.
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.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP
