Bull & Lifshitz, LLP Announces Investigation of the Acquisition of DivX, Inc. by Sonic Solutions
04 Giugno 2010 - 5:13PM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
acquisition of DivX, Inc. (NASDAQ: DIVX) (referred to as "DivX" or
the “Company”) by Sonic Solutions (NASDAQ: SNIC) (referred to as
"Sonic").
Under the terms of the agreement, approved by the boards of
directors of both companies, Sonic would acquire all the
outstanding shares of DivX and merge DivX operations into those of
Sonic. DivX stockholders would receive a combination of cash and
stock equal to $3.75 in cash and 0.514 shares of Sonic common stock
for each share of DivX they hold. The acquisition, which is
expected to close in September 2010, is subject to approval of the
shareholders of both companies as well as applicable regulatory
approvals and customary closing conditions.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders.
If you are a holder of DivX stock and want to discuss your legal
rights, you may e-mail or call Bull & Lifshitz, LLP who will,
without obligation or cost to you, attempt to answer your
questions.
If you are a shareholder of DivX and would like more information
about our investigation, please contact Joshua M. Lifshitz, Esq. by
telephone at (866) 313-6222 or by sending an e-mail including your
contact information to: counsel@nyclasslaw.com. All e-mail
correspondence should make reference to DivX.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please visit our website at www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2010 Bull & Lifshitz, LLP. The law
firm responsible for this advertisement is Bull & Lifshitz,
LLP, 18 East 41st Street, New York, New York 10017, (212) 213-6222.
Prior results do not guarantee or predict a similar outcome with
respect to any future matter.
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