BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Magma Design Automation, Inc. (“Magma” or the “Company”) (Nasdaq: LAVA) relating to the proposed acquisition by Synopsys, Inc. (“Synopsys”).
Under the terms of the transaction, Magma shareholders would receive $7.35 in cash for each share Magma stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Magma for not acting in the Company’s shareholders' best interests in connection with the sale process to Synopsys. The transaction may undervalue Magma as Magma stock traded at $8.45 as recently as July 7, 2011. In addition, an analyst has set a price target of $11.00 per share for Magma stock.
If you own shares of Magma stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, visiting http://brodsky-smith.com/362-lava-magma-design-automation-inc.html, or by calling toll free 877-LEGAL-90.