Law Office of Brodsky & Smith, LLC Announces Investigation of MEMSIC, Inc.
BALA CYNWYD, Pa. -- April 26, 2013
Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of MEMSIC, Inc. (“MEMSIC” or
the “Company”) (Nasdaq: MEMS) relating to the proposed acquisition by
IDG-Accel China Capital II, LP (“IDG”) and affiliates.
Under the terms of the transaction MEMSIC shareholders will receive only
$4.225 in cash for each share of MEMSIC stock they own. The investigation
concerns possible breaches of fiduciary duty and other violations of state law
by the Board of Directors of MEMSIC for not acting in the Company’s
shareholders' best interests in connection with the sale process. The focus of
the investigation is on potential conflicts of interests and if this may have
resulted in MEMSIC shareholders receiving inadequate compensation for their
stock. Affiliates of IDG currently own 19.5% of the Company’s outstanding
stock and MEMSIC stock traded at $5.20 as recently as March 16, 2012.
If you own shares of MEMSIC stock and wish to discuss the legal ramifications
of the proposed transaction, or have any questions, you may e-mail or call the
law office of Brodsky & Smith, LLC who will, without obligation or cost to
you, attempt to answer your questions. You may contact Jason L. Brodsky,
Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
http://brodsky-smith.com/573-mems-memsic-inc.html, by calling toll free
Attorney advertising. Prior results do not guarantee a similar outcome.
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
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