Supertex, Inc. (NASDAQ:SUPX) Investor Investigation Over Potential Wrongdoing In Takeover

If you purchased shares of Supertex, Inc. (NASDAQ:SUPX) and currently hold any of those NASDAQ:SUPX, you shares have certain options and you should contact the Shareholders Foundation, Inc.

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February 10, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Supertex, Inc. (NASDAQ:SUPX) shares, was announced concerning whether the takeover of Supertex, Inc. by Microchip Technology Incorporated for $33.00 per share is unfair to NASDAQ:SUPX stockholders.

The investigation by a law firm concerns whether certain officers and directors of Supertex, Inc. breached their fiduciary duties owed to NASDAQ:SUPX investors in connection with the proposed acquisition.

On February 10, 2014, Microchip Technology Incorporated (NASDAQ:MCHP) and Supertex Incorporated (NASDAQ: SUPX) announced that Microchip Technology Incorporated has signed an agreement to acquire Supertex for $33 per share in cash, which represents a total equity value of about $394 million, and a total enterprise value of about $246 million, after excluding Supertex’s cash and investments on its balance sheet of approximately $148 million.

However, the investigation concerns whether the $33-offer is unfair to NASDAQ:SUPX stockholders. More specifically, the investigation concerns whether the Supertex Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of Supertex, Inc. (NASDAQ:SUPX) grew from $16.61 per share in late 2013 to as high as $26.88 per share in January 2014.

On February 10, 2014, NASDAQ:SUPX shares closed at $32.95 per share.