SMART Modular Technologies (SMOD)

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#3 Rigrodsky & Long, P.A. Investigates SMART Modular Technologies (WWH), Inc. (Nasdaq: SMOD) Going Private Transaction

Press Release Source: Rigrodsky & Long, P.A. On Tuesday April 26, 2011, 11:40 am

WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of SMART Modular Technologies (WWH), Inc. (“SMART” or the “Company”) (Nasdaq: SMOD) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Silver Lake Partners and Silver Lake Sumeru in a transaction valued at approximately $645 million.

Under the terms of the merger agreement, SMART’s shareholders will receive $9.25 in cash for each share of SMART common stock they own.


The investigation concerns whether SMART’s board of directors failed to adequately shop the Company and obtain the best price possible for SMART’s shareholders before entering into the agreement with Silver Lake Partners and Silver Lake Sumeru. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $11.00 per share for SMART stock.