NetLogic Investors Fight $3.7B Broadcom Deal

Law360, Wilmington (September 21, 2011, 2:18 PM EDT) -- A putative class of NetLogic Microsystems Inc. shareholders filed suit Tuesday in Delaware over Broadcom Corp.'s $3.7 billion bid for the chip maker, saying the deal stiffs investors just as the company is poised for big gains.

NetLogic’s directors breached their fiduciary duty to shareholders by agreeing to the $50-per-share offer, which is locked in with unfair deal protections and undervalues the company considering the ongoing boom in demand for wireless technology, according to a complaint filed by Vincent Anthony Danielo.

“The proposed transaction denies plaintiff...
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