SAN DIEGO — (BUSINESS WIRE) — June 10, 2010 — Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Virage Logic Corporation ("Virage" or the "Company") (NASDAQ: VIRL) in connection with their actions in causing Virage to enter into a definitive merger agreement to be acquired by Synopsys, Inc. ("Synopsys") (NASDAQ: SNPS). If the transaction is completed, Virage shareholders will receive $12.00 in cash for each share of Virage common stock they hold. If approved, the transaction is expected to close in the fourth quarter of Synopsys's fiscal 2010.
Robbins Umeda LLP's investigation concerns whether the Board of Directors of Virage undertook a fair process to obtain fair consideration for all shareholders of Virage. Of particular note is that at least one analyst set a price target for Virage stock at over $15 per share, $3 above the amount offered by Synopsys and accepted by Virage's Board of Directors.
If you are a shareholder of Virage and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at Email Contact.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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Contact:
Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003
Email Contact