NEW YORK, Aug. 21, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of International Rectifier Corp. ("IRF" or the "Company") (NYSE: IRF) relating to the proposed buyout of the Company by Infineon Technologies AG ("Infineon").
On August 20, 2014, IRF and Infineon announced that they had signed a definitive agreement under which Infineon will acquire IRF in a transaction valued at approximately $3 billion. Under the terms of the transaction, IRF shareholders will receive $40 in cash for each share of IRF owned.
The investigation concerns whether the Board of IRF breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Infineon is underpaying for IRF shares. Indeed, IRF has over $540 million in cash on hand (or $7.60 per share) and has no long term debt.
If you own shares of IRF and would like further information regarding this investigation at no cost or expense, please contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC
