Lattice Semiconductor Corp. Acquisition May Not Be in the Best Interests of LSCC Shareholders

NEW YORK, Nov. 8, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Lattice Semiconductor Corp. ("LSCC" or the "Company") in connection with the proposed acquisition of the Company by Canyon Bridge Acquisition Co. ("Canyon Bridge").  On November 3, 2016, the Company announced that it had reached a definitive agreement for Canyon Bridge to acquire all outstanding shares of LSCC in a transaction valued at approximately $1.3 billion.  Under the terms of the agreement, the Company's shareholders will receive $8.30 in cash for each LSCC share they own.

WeissLaw is investigating whether LSCC's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, following the acquisition announcement, the Company reported positive financial results for the third quarter of fiscal year 2016.  On November 7, 2016, LSCC reported revenues of $113.2 million, representing 14.1% sequential growth when compared to the $99.2 million reported in the second quarter. 

Given these facts, WeissLaw is investigating whether LSCC's Board acted in the best interests of LSCC's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own LSCC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected]. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/lattice-semiconductor-corp/

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SOURCE WeissLaw LLP