Voltaire Ltd. board under investor investigation concerning unfairness of buyout

Dec. 1, 2010 - PRLog -- An investigation on behalf of Voltaire investors concerning whether the offer to take over Voltaire Ltd. at $8.75 per share and sale process are unfair to investors of Voltaire Ltd.  and whether certain officers and directors at Voltaire Ltd. breached their fiduciary duties was announced.

If you are a current investor in Voltaire Ltd.  and purchased your VOLT shares prior to the buyout announcement, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether Voltaire Ltd. and certain other of its officers and directors breached their fiduciary duties owed to investors of Voltaire Ltd.  in connection with the proposed takeover.

On Monday, Nov. 29, 2010 Voltaire Ltd.  and Mellanox® Technologies, Ltd. (NASDAQ- MLNX; TASE: MLNX) announced that they have signed an agreement under which Mellanox Technologies, Ltd will acquire 100% of Voltaire’s outstanding ordinary shares for cash at a price of $8.75 per share, or a total equity value of approximately $218 million ($176 million net of cash).

Shares of Voltaire Ltd. (Public, NASDAQ-VOLT) increased from $6.50 before the buyout news to $8.66 per VOLT share after the announcement.

But an investigation by a law firm concerns whether the sale process is unfair to the shareholders of Voltaire Ltd.  and whether the offer undervalues Voltaire Ltd.

Voltaire’s 12 month Total Revenue went from $30.43million in 2006 to $50.37million in 2009. For the first three quarters in 2010 Voltaire reported quarterly Total Revenue of $15.63million, $16.58million, and $ 18.12million or a combined 9months Total Revenue $50.33million.

Therefore the investigation concerns whether the Voltaire Board of Directors undertook an adequate and fair sales process to obtain fair consideration for all shareholders of Voltaire Ltd.  and breached their fiduciary duties to Voltaire (VOLT) shareholder by failing to adequately shop the Company before entering into the transaction.

Those who are current investors in Voltaire Ltd. (Public, NASDAQ-VOLT) and purchased their VOLT shares prior to the buyout announcement, and/or those who have any information relating the investigation, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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