Faruqi & Faruqi, LLP Announces Investigation of Standard Microsystems Corporation (SMSC)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Standard Microsystems Corporation (“Standard Microsystems” or the “Company”) (NASDAQ: SMSC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Microchip Technology Incorporated (NASDAQ: MCHP) in an all-cash deal valued at about $939 million. Under the terms of the proposed transaction, Standard Microsystems’ stockholders will receive $37.00 in cash for each share of Standard Microsystems’ common stock they own.
Whether Standard Microsystems’ Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Standard Microsystems’ shares and by how much this proposed transaction undervalues the Company to the detriment of Standard Microsystems’ shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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