Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of DivX, Inc.
22 Luglio 2010 - 3:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
DivX, Inc. (“DivX” or the “Company”) (NASDAQ:DIVX) related to the
Company’s agreement to be acquired by Sonic Solutions (“Sonic”) in
a proposed cash-and-stock transaction.
Under the terms of the definitive merger agreement entered into
by the parties, 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 DivX share they own. Upon completion of the
transaction, Sonic would acquire all the outstanding shares of DivX
and merge the Company’s operations into those of Sonic, and DivX
stockholders will own approximately 35% of the combined company’s
capital stock. The acquisition is expected to close in September
2010. The investigation concerns possible breaches of fiduciary
duty and other violations of law related to approval of the
proposed transaction by the DivX board of directors.
If you own shares of DivX, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
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