Zamansky & Associates Announces Investigation of the Acquisition of Zoran Corp. by CSR PLC.
Zamansky & Associates (”Zamansky”) has commenced an investigation into the acquisition of Zoran Corp. (”Zoran” or the “Company”) (NASDAQ: ZRAN) to determine whether the Company’s Board of Directors breached their fiduciary duty to the shareholders by agreeing to sell Zoran to CSR PLC (”CSR”).
On February 21, 2011, CSR announced that it agreed to acquire Zoran. Under the terms of the agreement, Zoran shareholders will receive 1.85 CSR shares for each share they currently own, placing a total value of approximately $679 million on the transaction.
The investigation concerns whether the Zoran Board of Directors breached their fiduciary duties to the Company shareholders by failing to adequately shop the Company prior to entering into the transaction with CSR, thereby failing to achieve the best price possible for the Zoran’s shareholders.
If you are a current Zoran shareholder and would like additional information regarding this investigation, you may, without obligation or cost to you, e-mail jake@zamansky.com or call (212) 742-1414.