Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  NVLS    NVLS   

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Novellus Systems, Inc. : Robbins Umeda LLP Announces an Investigation of Novellus Systems, Inc.

share with twitter share with LinkedIn share with facebook
share via e-mail
12/16/2011 | 12:30am CEST

Shareholder rights firm Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Novellus Systems, Inc. (NASDAQ: NVLS) in connection with their efforts to sell the company to Lam Research Corporation (NASDAQ: LRCX). Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Gregory E. Del Gaizo at (800) 350-6003, or via the shareholder information form on the firm's website.

On December 14, 2011, Lam Research announced that it had entered into a definitive merger agreement pursuant to which it will acquire all outstanding shares of Novellus in an all-stock transaction. According to the terms of the agreement, Novellus stockholders will receive 1.125 shares of Lam Research common stock for each share of Novellus that they own. Based on the closing price of Lam Research's stock on December 14, 2011, the transaction values Novellus at $44.42 per share. The transaction is expected to close in the second calendar quarter of 2012.

Robbins Umeda LLP's investigation focuses on whether Novellus' board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company's recent positive financial results. On October 26, 2011, the company reported better than expected financial results for that third-quarter of fiscal year 2011 that beat analyst projections. Novellus reported adjusted earnings per share (EPS) of $0.71 for the quarter, beating analyst estimates of an adjusted EPS of only $0.68 for the same period.

Robbins Umeda is also investigating whether self-dealing and other employment guarantees played a part in the decision by the board to enter into the merger agreement. According to the press release issued on December 14, 2011, Timothy Archer, chief operating officer of Novellus, will become chief operating officer of the combined company. Additionally, the board of directors of Lam Research will add four new directors jointly nominated by Lam Research and Novellus.

Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/novellus-systems-inc/

Attorney Advertising. Past results do not guarantee a similar outcome.

Robbins Umeda LLP
Gregory E. Del Gaizo
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003

© Business Wire 2011
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on NVLS
2016Nivalis Therapeutics Appoints David Rodman, MD as Chief Medical Officer and E..
2016Nivalis Therapeutics Reaches 50 Percent Enrollment Milestone in Phase 2 Clini..
2016Nivalis Therapeutics Expands N91115 Clinical Development Program in Cystic Fi..
2016Nivalis Therapeutics Announces Appointment of Paul Sekhri to Its Board of Dir..
2016Nivalis Therapeutics Reports Fourth Quarter and Full-Year 2015 Financial Resu..
2016Nivalis Therapeutics Announces FDA Fast Track Designation for N91115 in Patie..
2016Nivalis Therapeutics Announces FDA Orphan Drug Designation for N91115 in Cyst..
2015Nivalis Therapeutics Announces First Patient Dosed in Phase 2 Study of N91115..
2015Nivalis Therapeutics to Present at the Stifel Healthcare Conference 2015
2015Nivalis Therapeutics Reports Third Quarter and Nine-Month Financial Results f..
More news
News from SeekingAlpha
2015Nivalis Therapeutics debuts tomorrow at $14 
2015WEEK AHEAD : Fitbit And 10 More IPOs Planned For The Week Of June 15 
2015Nivalis Therapeutics A No-Brainer For Biotech Investors 
Chart NVLS
Duration : Period :
NVLS Technical Analysis Chart | NVLS | 4-Traders
Sector and Competitors