Microtune Investor Fights To Block $166M Zoran Deal

Law360, New York (September 20, 2010, 6:02 PM EDT) -- A Microtune Inc. shareholder has filed a verified class action against the electronics company and its board, seeking an injunction on a proposed $166 million sale to Zoran Corp.

Investor Steven Goldstein filed suit Friday in the Court of Chancery of the State of Delaware, alleging breaches of fiduciary duty on the part of Microtune board members for agreeing to sell the company to Zoran for $2.92 a share on Sept. 8.

“Unless the proposed transaction is enjoined by the court, Microtune and Zoran will continue...
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