WILMINGTON, Del., Apr. 13, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Integrated Silicon Solution, Inc. (“ISSI” or the “Company”) relating to the sale of the Company to a consortium of investors led by Summitview Capital (“Summitview”). On March 12, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Summitview will acquire ISSI in a merger worth $639.5 million. As a result of the merger, ISSI shareholders are only anticipated to receive $19.25 per share in cash in exchange for each share of ISSI.
Andrews & Springer’s investigation has so far uncovered that the consideration that ISSI shareholders are expected to receive is inadequate. Analysts at B. Riley & Co. have more recently announced ISSI price targets that are above the anticipated $19.25 consideration shareholders will receive. Our investigation so far has revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair.
Andrews & Springer is investigating whether ISSI directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by ISSI’s financial advisor, Oppenheimer & Co.
If you own shares of ISSI and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/ISSI or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.