Advanced Analogic Technologies, Inc.
Robbins Umeda LLP Is Investigating Advanced Analogic Technologies Inc. for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of Advanced Analogic Technologies Inc. (“AnalogicTech”) (NASDAQ: AATI). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of AnalogicTech in connection with their efforts to sell the company to Skywork Solutions, Inc. (NASDAQ: SWKS).
On May 26, 2011, Skyworks signed a definitive agreement to purchase AnalogicTech. Under the terms of the agreement, Skyworks will acquire AnalogicTech for $6.13 per share, representing $3.68 per share in cash and 0.08725 of a share of Skyworks common stock for each outstanding share of AnalogicTech.
The investigation focuses on whether AnalogicTech’s board is undertaking a fair process to obtain maximum value and adequately compensate its shareholders. Certain of AnalogicTech’s officers and directors have entered into a stockholder agreement with Skyworks in which they have agreed to vote all their shares of AnalogicTech in favor of adoption of the merger and against any other acquisition proposal or alternative acquisition agreement made in opposition to the proposed sale to Skyworks. Moreover, certain officers and directors of AnalogicTech were granted restricted stock units in connection with their efforts in negotiating the agreement with Skyworks.
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