Case Details for " DivX, Inc "

Investigation of of DivX, Inc breaches of fiduciary duties

Lawyers are  investigating potential claims on behalf of shareholders of DivX, Inc. ("DivX" or the "Company") (Nasdaq:DIVX) arising from the Company's announcement of its intent to be acquired by Sonic Solutions ("Sonic"). Under the terms of the agreement, DivX shareholders will receive $3.75 in cash and 0.514 shares of Sonic common stock for each share of DivX they hold, resulting in total consideration of approximately $9.83 a share. The transaction is valued at approximately $326 million.

The investigation is focused on the potential unfairness of the consideration to DivX shareholders and the process by which the Company's Board of Directors considered and approved the transaction. In particular, at least one analyst has set a target price of DivX stock at $10.50 per share.

Posted on:06/04/2010
Company: DivX, Inc
Affected Class: Current Shareholders
Scope: Nationwide

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