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Federman & Sherwood has Launched an Investigation of Zoran Corporation for Possible Breaches of Fiduciary Duty and Violations o

^{Published on 2011-02-22 10:20:29 - Market Wire}
 

OKLAHOMA CITY--([ BUSINESS WIRE ])--The law firm of Federman & Sherwood has initiated an investigation into Zoran Corporation (NASDAQ: ZRAN) with respect to possible breaches of fiduciary duty by the companya™s officers and directors, as well as violations of state law in connection with its proposed sale and merger with CSR PLC (OTC: CSR.L).

CSR PLC has agreed to acquire Zoran in a stock-for-stock merger transaction for $679 million. If the deal closes, Zoran shareholders will receive 1.85 shares of CSR stock for each outstanding share of Zoran common stock they own, which represents an approximate per share value of $13.03. The sale is expected to close in the second quarter of 2011. Federman & Sherwood is investigating whether the proposed merger makes all necessary disclosures, whether it offers adequate value to the Companya™s shareholders, and whether Zoran could have received a higher valuation for its shareholders by seeking other purchasers. CSR has made an announcement that it intends to return up to $240 million to Zoran shareholders via an on-market share buyback program.

If you own common stock in Zoran Corporation, have information to assist in our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact our firm. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions in state and federal courts nationwide.