Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the Acquisition of Sonic Solutions
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Sonic Solutions (the “Company”) (Nasdaq: SNIC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Rovi Corporation (“Rovi”) (NasdaqGS: ROVI) for an estimated $720 million. The proposed cash-and-stock transaction offers Sonic Solutions shareholders to only receive either $14 in cash or 0.2489 share of Rovi for each share of Sonic Solutions tendered and accepted in the exchange offer. According to Yahoo! Finance, at least one analyst values the Sonic Solutions' common stock at $17 per share.
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