A Series Of Avoidable Missteps In PLX Sale

By Gail Weinstein, Steven Epstein, Matthew Soran and Robert Schwenkel (November 20, 2018, 2:48 PM EST) -- After Avago Technologies Wireless (USA) Manufacturing Inc. acquired PLX Technologies Inc., certain former PLX stockholders sued for damages. They alleged that the PLX directors had breached their fiduciary duties, aided and abetted by both Potomac Capital Partners II LP (a hedge fund that is an activist stockholder and had three designees on the PLX board) and the PLX board's financial adviser/banker, Deutsche Bank. Before trial, the claims against the financial adviser were settled and those against the directors were dismissed or settled; the trial thus proceeded only against Potomac....

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