LAWSUIT ALERT: The Law Firm of Andrews & Springer LLC Announces That A Class Action Lawsuit Has Been Filed Against PLX Technology, Inc. -- PLXT

WILMINGTON, Del., June 30, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a shareholder has filed a class action lawsuit against PLX Technology Inc. ("PLX" or the "Company") PLXT seeking to challenge the Company's recently announced merger.

If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. 

According to the lawsuit, on June 23, 2014, PLX and Avago Technologies Limited ("Avago") announced the signing of a definitive merger agreement pursuant to which Avago would acquire PLX in a merger valued at roughly $309 million. As a result of the merger, PLX shareholders are only anticipated to receive $6.50 per share in cash in exchange for each share of PLX they own. Recently, on June 24, 2014, an analyst at Craig-Hallum Capital Group removed its previously stated $8.00 price target for PLX.  

The complaint, which was filed on June 27, 2014 in the Delaware Chancery Court, alleges that the consideration PLX shareholders are expected to receive is inadequate. The complaint also alleges that some members of PLX management are conflicted because they are continuing their employment: "PLXT's largest shareholder, Potomac Capital Partners II L.P., as well as certain senior members of the PLXT management team and all of the directors of PLXT, some of which will stay with the new company, have executed a tender and support agreement in support of the deal."

If you own shares of PLX and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/plxt or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates. 

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.