Geller Rudman & Dowd LLP (“Robbins Geller”) today announced that
a class action has been commenced on behalf of holders of Xcerra
Corporation (NASDAQ:XCRA) common stock on August 23, 2017. This action
was filed in the District of Massachusetts and is captioned Khan v.
Xcerra Corporation, et al., No. 1:17-cv-12226. The complaint charges
Xcerra and its Board of Directors with violations of the Securities
Exchange Act of 1934 (the “1934 Act”).
If you wish to serve as lead plaintiff, you must move the Court no later
than 60 days from today. If you wish to discuss this action or have any
questions concerning this notice or your rights or interests, please
contact plaintiff’s counsel, Darren
Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at [email protected]. Any
member of the putative class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do nothing
and remain an absent class member.
Xcerra is a Massachusetts company supplying semiconductor and
electronics test equipment. On April 10, 2017, Xcerra and Sino IC
Capital Co. Ltd. (“Sino IC Capital”) announced an Agreement and Plan of
Merger pursuant to which Unic Capital Management Co., Ltd. – an
affiliate of Sino IC Capital – would acquire all of the outstanding
shares of Xcerra for $10.25 per share (the “Acquisition”).
On September 5, 2017, defendants issued a Definitive Proxy Statement on
Schedule 14A (the “Proxy”), which recommended that Xcerra shareholders
accept the $10.25 per share offer and vote in favor of the Acquisition.
The complaint alleges that the Proxy contained false and misleading
statements preventing the Company’s shareholders from making a fully
informed decision on the Acquisition and inducing the Company’s
shareholders into accepting an offer that was unfair compared to the
actual intrinsic value of the Company.
Plaintiff seeks to recover damages on behalf of all holders of Xcerra
common stock on August 23, 2017. The plaintiff is represented by Robbins
Geller, which has extensive experience in prosecuting investor class
actions including actions involving financial fraud.
Robbins Geller is widely recognized as a leading law firm advising and
representing U.S. and international investors in securities litigation
and portfolio monitoring. With 200 lawyers in 10 offices, Robbins Geller
has obtained many of the largest securities class action recoveries in
history. For the third consecutive year, the Firm ranked first in both
the total amount recovered for investors and the number of shareholder
class action recoveries in ISS's SCAS Top 50 Report. Robbins Geller
attorneys have shaped the law in the areas of securities litigation and
shareholder rights and have recovered tens of billions of dollars on
behalf of the Firm’s clients. Robbins Geller not only secures recoveries
for defrauded investors, it also implements significant corporate
governance reforms, helping to improve the financial markets for
investors worldwide. Please visit http://www.rgrdlaw.com
for more information.
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