STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Montage Technology Group Limited (“Montage” or the “Company”) (NasdaqGS: MONT) and other violations of state law by the board of directors of Montage relating to the proposed buyout of the Company by Shanghai Pudong Science and Technology Investment Co.
Under the terms of the transaction, Montage shareholders will receive $22.60 in cash for each share of Montage stock they own. According to Yahoo! Finance, at least one analyst has issued a price target for Montage stock at $28.50 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties to stockholders by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Shanghai Pudong Science and Technology Investment Co. is underpaying for Montage shares.
If you currently own common stock of Montage and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.