SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into
Possible Breaches of Fiduciary Duty by the Board of MEMSIC, Inc. in
Connection with the Sale of the Company to IDG-Accel China Capital II, LP
NEW YORK -- April 26, 2013
Levi & Korsinsky is investigating the Board of Directors of MEMSIC, Inc.
(“MEMSIC” or the “Company”) (Nasdaq: MEMS) for possible breaches of fiduciary
duty and other violations of state law in connection with the sale of the
Company to IDG-Accel China Capital II, LP (“IDG”) and affiliates.
Click here to learn more about the investigation
http://zlk.9nl.com/memsic-inc-mems/, or call: 877-363-5972. There is no cost
or obligation to you.
Under the terms of the transaction, MEMSIC shareholders will receive $4.225
for each share of MEMSIC stock they own. Affiliates of IDG currently own
approximately 19.5% of the Company’s outstanding stock. The transaction has a
total approximate value of $88.5 million. The investigation concerns whether
the MEMSIC Board of Directors breached their fiduciary duties to stockholders
by failing to adequately shop the Company before agreeing to enter into the
transaction, and whether IDG and affiliates are underpaying for MEMSIC stock,
thus unlawfully harming MEMSIC stockholders.
If you own common stock in MEMSIC and wish to obtain additional information,
please contact Joseph E. Levi, Esq. either via email at email@example.com or by
telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. 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 securities lawsuits
and have successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not guarantee
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Toll Free: 877-363-5972
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