SPANSION INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Spansion, Inc. Over the Proposed Sale of the Company to Cypress Semiconductor Corp. - CODE
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Spansion, Inc. (“Spansion” or the “Company”) (NYSE: CODE) for potential breaches of fiduciary duties in connection with the sale of the Company to Cypress Semiconductor Corp. (NASDAQ: CY) for approximately $1.6 billion based on the December 1st closing price of $10.43. In this all-stock transaction, the Company’s stockholders will only receive 2.457 shares of Cypress for each share of Spansion common stock they own.
The investigation focuses on whether Spansion’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Spansion’s shareholders.
If you own common stock in Spansion and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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