SMART Modular Technologies (SMOD)

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#2 Wohl & Fruchter Investigates Conflicts of Interest in Acquisition of SMART Modular Technologies (WWH), Inc.

Press Release Source: Wohl & Fruchter LLP On Tuesday April 26, 2011, 11:22 am

NEW YORK--(BUSINESS WIRE)-- The law firm of Wohl & Fruchter LLP has commenced an investigation into the acquisition of SMART Modular Technologies (WWH), Inc. (SMART) by Silver Lake Partners and Silver Lake Sumeru.

Under the terms of the merger agreement entered into by SMART, investors will receive $9.25 in cash per share – a premium of only 13% to the previous day’s market close and 15% to the average market close over the prior ten days.

Ajay Shah, the Chairman of SMART’s board of directors and its co-founder and former CEO, is the managing director of Silver Lake Sumeru. The Firm’s investigation concerns whether Mr. Shah’s affiliation with Silver Lake Sumeru affected SMART’s decision to enter into the merger agreement, and whether SMART’s actions were in the best interests of its public shareholders.