MILWAUKEE, April 30, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of OmniVision for possible breaches of fiduciary duty and other violations of state law in connection with the sale of OmniVision to the Consortium.
Click here to learn how to join the action: http://www.ademilaw.com/case/omnivision or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
OmniVision’s long-term financial outlook is positive and yet shareholders will receive only the $29.75 per share. The Consortium is well aware of OmniVision’s’ improving financial metrics and is purchasing OmniVision at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should OmniVision receive and accept a superior bid. OmniVision’s insiders and their affiliates will receive millions of dollars in the transaction on terms not available to non-insider shareholders. These insiders can unduly influence a sale of OmniVision not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of OmniVision’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for OmniVision given its current financial condition and prospects.
If you own shares of OmniVision and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/omnivision.
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