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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Board of Sonic Solutions
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Board of Sonic Solutions
Levi & Korsinsky is investigating the Board of Directors of Sonic Solutions (“Sonic” or the “Company”) (Nasdaq: SNIC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Rovi Corporation (“Rovi”) (Nasdaq: ROVI).
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12/01/2011
New York, NY, January 12, 2011 -- Levi & Korsinsky is investigating the Board of Directors of Sonic Solutions (“Sonic” or the “Company”) (Nasdaq: SNIC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Rovi Corporation (“Rovi”) (Nasdaq: ROVI). Sonic shareholders may choose to receive either $14.00 in cash or 0.2489 shares of Rovi common stock for each share tendered. The transaction has a total value of approximately $720 million.
Click here to learn how to join the action: http://www.zlk.com/sonic-snic.html, or call: 877-363-5972.
The investigation concerns whether the Sonic Board of Directors breached their fiduciary duties to Sonic stockholders by failing to adequately shop the Company before entering into this transaction and whether Rovi is underpaying for Sonic shares, thus unlawfully harming Sonic stockholders. In particular, at least one analyst set a price target for Sonic stock at $17.00 per share and the median price target set by six analysts is $15.00 per share.
If you own common stock in Sonic and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/sonic-snic.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. Attorney advertising. Prior results do not guarantee similar outcomes.
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
Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St.
15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com
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