PR Newswire | Jan 7, 2021 09:35PM EST

01/07 20:35 CST

SHAREHOLDER ALERT: WeissLaw LLP Investigates ACE Convergence Acquisition Corp. NEW YORK, Jan. 7, 2021

NEW YORK, Jan. 7, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ACE Convergence Acquisition Corp. ("ACEV" or the "Company") (NASDAQ: ACEV) in connection with the Company's proposed merger with privately-held fabless semiconductor corporation Achronix Semiconductor Corporation ("Achronix"). Under the terms of the merger agreement, ACEV will acquire Achronix through a reverse merger that will result in Achronix becoming a publicly-listed company. The transaction reflects an implied equity value of $2.1 billion for the combined company.

If you own ACEV shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/ACEV/

Or please contact:Joshua Rubin, Esq.WeissLaw LLP1500 Broadway, 16th FloorNew York, NY 10036(212) 682-3025(888) 593-4771stockinfo@weisslawllp.com

WeissLaw LLP is investigating whether ACEV's board acted in the best interest of ACEV's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Achronix, and whether all information regarding the valuation of the transaction will be fully and fairly disclosed to ACEV's public shareholders.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP