OMNIVISION SHAREHOLDER ALERT – National Securities Law Firm Seeks Higher Price for OmniVision Technologies Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information
April 30, 2015
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of OmniVision Technologies, Inc. (NASDAQ: OVTI) (“OmniVision” or the “Company”) on behalf of its shareholders. OmniVision announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd. Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash or a total of approximately $1.9 billion.
Our investigation has determined that the offer price of only $29.75 per share unfairly under-values the true going forward inherent value of OmniVision and that shareholders are not receiving the maximum value for their shares. Indeed, among other things, the Company has over $513 million of cash on its balance sheet or $8.83 per share in cash. Further, the book value per share of the Company is $19.13 per share. In addition, analysts have opined that the Company is worth at least $35 per share and the stock has traded as high as $29.95 within the past year. The investigation further seeks to determine whether the senior management of OmniVision are entering into this deal for their own self-interests to the detriment of the Company’s shareholders. Indeed, OmniVision CEO Shaw Hong is expected to remain with OmniVision in the same capacity.
If you are a shareholder of OmniVision and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.