The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Magma Design Automation Inc. in Connection with the Sale of the Company to Synopsys, Inc.

NEW YORK--(BUSINESS WIRE)--

Levi & Korsinsky is investigating the Board of Directors of Magma Design Automation Inc. (“Magma” or the “Company”) LAVA for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Synopsys, Inc. SNPS. Under the terms of the transaction, Magma shareholders will receive $7.35 per share of Magma stock they own. The transaction has a total approximate value of $507 million including the assumption of debt.

Click here to learn how to join the action: http://www.zlk.com/magma-design-automation-lava, or call: 877-363-5972.

The investigation concerns whether the Magma Board of Directors breached their fiduciary duties to Magma stockholders by failing to adequately shop the Company before entering into this transaction and whether Synopsys, Inc. is underpaying for Magma shares, thus unlawfully harming Magma stockholders. In particular, shares of Magma traded as high as $8.45 as recently as July 7, 2011. Furthermore, at least one analyst set a price target of $11.00 per share of Magma stock.

If you own common stock in Magma and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.