The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Hittite Microwave Corporation Buyout Proposal
SMITHTOWN, NY, June 9, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Hittite Microwave Corporation (“Hittite”) (NASDAQ GS: HITT) for possible breaches of fiduciary duties and other violations of law in connection with Hittite’s agreement to be acquired by Analog Devices, Inc. (“Analog”) (NASDAQ GS: ADI), in a transaction valued at approximately $2 billion.
Under the terms of the agreement, public shareholders of Hittite would receive $78.00 in cash for each share of Hittite they own.
The investigation concerns whether Hittite’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Hittite’s stockholders would be fair and adequate, and whether Hittite is acting in its stockholders’ best interests.