Apple's AuthenTec Acquisition Sets Off Alarms

Apple wants to integrate AuthenTec into its workings as soon as possible, but it may not be allowed to do so now that two law firms are suspicious of the company.

For once, it isn't Apple itself that drew judicial ire, but AuthernTec's board of directors.

Apple is paying $356 million / 289 million Euro, but the maker of fingerprint sensor chips, security software and phone safety hardware may have been publicly undervalued prior to its sale. In other words, the price could be too low.

"[The] Investigation concerns whether the AuthenTec Board of Directors breached their fiduciary duties to AuthenTec stockholders by failing to adequately shop the Company before entering into this transaction and whether Apple is underpaying for AuthenTec shares, thus unlawfully harming AuthenTec stockholders," says law firm Levi & Korsinsky.

The allegations alone can delay the buyout process, according to federal rules. We'll have to wait for official statements on the part of the companies to learn whether or not such a situation will arise.