Kendall Law Group Investigates SMART Modular Technologies (WWH), Inc. Acquisition for Shareholders
(And here comes the first of what will be many...)
Press Release Source: Kendall Law Group On Tuesday April 26, 2011, 9:49 am
DALLAS--(BUSINESS WIRE)-- Kendall Law Group, led by former federal judge Joe Kendall, is investigating SMART Modular Technologies (WWH), Inc. (NASDAQ:SMOD - News) for shareholders in connection with the proposed acquisition by Silver Lake Partners and Silver Lake Sumeru. The national securities firm’s investigation seeks to determine whether SMART and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a SMART shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On April 26, 2011, the companies announced the definitive merger agreement under which SMART would be acquired by Silver Lake Partners and Silver Lake Sumeru, in a transaction valued at approximately $645 million. Under the terms of the agreement, SMART stockholders will receive $9.25 in cash for each share of SMART/SMOD common stock held. The offer price represents a 13% premium over SMART’s Monday closing price. In addition, according to Thompson/First Call, analysts have set a price target as high as $11.00 per share for SMART stock. The firm’s investigation seeks to determine whether SMART and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Good judgment comes from experience, and a lot of that comes from bad judgment.
