Magma Design Automation, Inc. (Nasdaq: LAVA) Investigated by Rigrodsky & Long, P.A. Over Its Sale to Synopsys, Inc.

  • Do you own shares of Magma Design Automation, Inc. (Nasdaq: LAVA)?
  • Did you buy any of your shares before November 30, 2011?
  • Do you think the proposed buyout price is too low?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience.  R & L is investigating potential claims against the board of directors of Magma Design Automation, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Synopsys, Inc. for approximately $507 million.

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Rigrodsky & Long, P.A. Investigates Magma Design Automation, Inc.'s Sale to Synopsys, Inc. for Shareholders

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Magma Design Automation, Inc. (“Magma” or the “Company”) (Nasdaq: LAVA) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Synopsys, Inc. (“Synopsys”) in a transaction with an approximate value of $507 million, net of cash and debt acquired.

Under the proposed agreement, Synopsys will acquire all of the outstanding shares of Magma for $7.35 per share in cash.

The investigation concerns whether Magma’s board of directors adequately shopped the Company to obtain the best price possible for Magma’s shareholders before entering into the agreement with Synopsys.  Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $11.00 per share for Magma stock. Moreover, on December 1, 2011, Magma reported revenue of $38.3 million for its fiscal 2012 second quarter ended Oct. 30, 2011, up 13 percent from the $33.9 million reported in the year-ago second quarter.  Magma chairman and CEO, Rajeev Madhavan, commented: “During the second quarter, Magma made great business and technical progress--adding a record number of new logos and generating positive cash flow for the 11th consecutive quarter[.]” (Emphasis added).

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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