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Brower Piven Announces Class Action Lawsuit in Connection With Claims of Breaches of Fiduciary Duty by the Board of Directors of Supertex, Inc. in Connection With the Sale of the Company to Microchip Technology Inc.STEVENSON, Md. --(Business Wire)-- The securities litigation firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the California Superior Court, Santa Clara County, on behalf of all common stockholders of Supertex (News - Alert), Inc. ("Supertex" or the "Company") (NasdaqGS: SUPX) asserting claims that the members of the Company's board of directors have breached fiduciary duties they owe to Supertex shareholders. Supertex recently announced that it has entered into a definitive merger agreement to be acquired by Microchip Technology (News - Alert) Inc. ("icrochip"). According to the complaint, under the terms of the proposed transaction, Supertex shareholders will receive $33 for each share of Supertex stock they own. The claims asserted in the lawsuit concern whether the Company's Board of Directors breached their fiduciary duties to stockholders by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Microchip is underpaying for Supertex shares. If you currently own common stock of Supertex and would like to learn more about the lawsuit, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [email protected], by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. The senior attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 100 years.
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