ACCESS Newswire
16 Jun 2021, 20:25 GMT+10
NEW YORK, NY / ACCESSWIRE / June 16, 2021 / The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Magnachip Semiconductor Corporation ('Magnachip' or the 'Company') (NYSE:MX) stock prior to March 25, 2021.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Magnachip to investment vehicles established by Wise Road Capital LTD and certain of its limited partners ('Wise Road'). Under the terms of the merger agreement, Magnachip shareholders will receive $29.00 in cash per share they own.
The Magnachip merger investigation concerns whether the Board of Magnachip has breached its fiduciary duties in connection with the deal. In particular, on June 11, 2021, Magnachip announced that it had received an unsolicited proposal from Cornucopia Investment Partners on behalf of itself and a group of investors, including financial sponsors led by Mr. Tim Crown, Yango financial holdings, Sino-Rock Investment Management Company Limited and Lombarda China Fund, to acquire all of the outstanding shares of Magnachip common stock for $35.00 per share in cash. Market observers have noted that this latest bid offers significantly greater value than the Wise Road deal. Nevertheless, the Magnachip Board has not terminated the Wise Road transaction, or even recognized the subsequent proposal as a superior offer.
To learn more about the action and your rights, go to:
https://www.zlk.com/mna2/magnachip-semiconductor-corporation-information-request-form
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500. There is no cost or obligation to you.
Levi & Korsinsky is a nationally recognized firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
Get a daily dose of Boston Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Boston Star.
More InformationNEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
Washington, DC [US], July 2 (ANI): Rapper and singer Post Malone suffered a fall onstage while trying to toast a fan during his concert,...
(250630) -- LENOX (U.S.), June 30, 2025 (Xinhua) -- People visit an outdoor exhibition Solar Terms: Contemporary Ink Art Event in Lenox,...
New Delhi [India], June 30 (ANI): Around 95 per cent of Indian companies rank innovation among their top three priorities amid ongoing...
BEIJING, June 30 (Xinhua) -- In a workshop in the southwestern Chinese city of Chengdu, rows of fermentation tanks are filled with...
Washington DC [US], June 29 (ANI): A scripted adaptation of the Karen Read murder case, which ended in a recent acquittal, is in the...