Levi & Korsinsky is investigating the Board of Directors of LTX-Credence Corporation for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Verigy Ltd.
New York, NY, November 19, 2010 — Levi & Korsinsky is investigating the Board of Directors of LTX-Credence Corporation (“LTX-Credence” or the “Company”) (Nasdaq: LTXC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Verigy Ltd. (“Verigy”) (Nasdaq: VRGY). Under the terms of the agreement, LTX-Credence shareholders will receive a fixed exchange ratio of 0.96 shares of Verigy stock or Holdco stock for each share of LTX-Credence stock they own. Based on the prior day closing price of Verigy stock, the transaction values LTX-Credence stock at approximately $8.55 per share for a total transaction value of approximately $420 million.
Click here to learn how to join the action: http://www.zlk.com/ltx-credence-ltxc.html, or call: 877-363-5972.
The investigation concerns whether the LTX-Credence Board of Directors breached their fiduciary duties to LTX-Credence stockholders by failing to adequately shop the Company before entering into this transaction and whether Verigy is underpaying for LTX-Credence shares, thus unlawfully harming LTX-Credence stockholders. In particular, the mean price target for LTX-Credence stock set by 5 analysts is $12.60 per share with at least one analyst setting a price target of $18 per share.
If you own common stock in LTX-Credence and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/ltx-credence-ltxc.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street – 15th, Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
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Contact:
Jared Morine
Levi & Korsinsky, LLP
New York, NY 10004
212-363-7500
[email protected]
