NetLogic Microsystems, Inc. under investigation for violation of fiduciary duty
The Board of Directors of NetLogic Microsystems, Inc. is under investigation possible violation of fiduciary duty and other violations of law. A national class action and shareholder rights law firm, Weiss & Lurie, is scrutinizing this case which arose from the proposed attainment by Broadcom Corporation in an all cash transaction valued at roughly around $3.7 billion. NetLogic has been found for continued growth. The Company reported revenue of $103.7 million in a press release dated July 28, 2011. This is a 5.1% sequential increase from $98.7 million for the first quarter of 2011 and a 9.1% increase from $95.0 million for the second quarter of 2010. Weiss & Lurie has taken proceedings of hundreds of stockholder class and derivative actions for infringement of corporate and fiduciary duties.