Faruqi & Faruqi, LLP Announces the Investigation of Hutchinson Technology Inc. (HTCH) Over the Proposed Sale of the Company to TDK Corporation
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Hutchinson Technology Inc. (“Hutchinson” or the “Company”) (NasdaqGS:HTCH) for potential breaches of fiduciary duties in connection with the sale of the Company to TDK Corporation for approximately $221 million.
The Company’s stockholders will only receive $3.62 in cash per share (plus up to $0.38 per share in a possible additional consideration) of Company common stock they own. However, the offer is below both the median analyst price target of $4.00 per share and the 52-week high of $4.25 per share.
If you own common stock in Hutchinson and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan 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
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.