MONSEY, N.Y., Jan. 11, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the price of $5.10 per share in cash for which Transphorm, Inc. (Nasdaq: TGAN) (“Transphorm”) has agreed to be sold to Renesas Electronics (“Renesas”). The sales price is well below the price target of $8.00 per share of analyst David Williams at Benchmark Capital, and the price target of $6.00 per share of analyst Ananda Baruah at Loop Capital Markets, according to TipRanks.
If you remain a Transphorm shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/transphorm/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 11, 2024, Transphorm announced that it had agreed to be sold to Renesas for $5.10 per share in cash.
“We are investigating whether the Transphorm Board of Directors acted in the best interests of Transphorm shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Transphorm shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price is well below the price target of $8.00 per share of analyst David Williams at Benchmark Capital, and the price target of $6.00 per share of analyst Ananda Baruah at Loop Capital Markets.
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
