Science & Technology
Thu, July 28, 2011Wed, July 27, 2011Tue, July 26, 2011Mon, July 25, 2011Sun, July 24, 2011Fri, July 22, 2011Thu, July 21, 2011Wed, July 20, 2011Tue, July 19, 2011Mon, July 18, 2011Sun, July 17, 2011Sat, July 16, 2011Fri, July 15, 2011Thu, July 14, 2011Wed, July 13, 2011Tue, July 12, 2011Faruqi & Faruqi, LLP Announces Class Action Lawsuit Against Atheros Communications, Inc.
Published in Science and Technology on Tuesday, July 19th 2011 at 9:21 GMT by Market Wire
NEW YORK--([ BUSINESS WIRE ])--Notice is hereby given that a class action lawsuit is pending in the United States District Court for the Northern District of California on behalf of Joel Krieger individually and on behalf of all other shareholders of Atheros Communications, Inc. (aAtherosa or the aCompanya) (NASDAQ: ATHR) who held securities on or before January 5, 2011 and continued to hold through and including June 3, 2011 (the aClass Perioda). The Class Action Complaint alleges that Atheros and certain of its officers and/or directors have violated sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and includes a claim for equitable assessment of attorneysa™ fees.
A copy of the Class Action Complaint filed in this action can be viewed on the firma™s website at [ www.faruqilaw.com ]
On January 5, 2011, Atheros and Qualcomm, Inc. (aQualcomma) announced that they had entered into a definitive merger agreement (the aMerger Agreementa) pursuant to which Qualcomm would acquire Atheros and on February 11, 2011, Atheros issued a Definitive Proxy to solicit Atheros shareholdersa™ vote. On March 28, 2011, 74.6% of Atheros shareholders voted to approve the Merger Agreement based on the statements in the Definitive Proxy. The Class Action Complaint alleges that, unbeknownst to Atherosa™ shareholders, the Definitive Proxy failed to disclose material information including the existence and nature of two key financial analyses that were performed by the Companya™s financial advisor in support of its fairness opinion and provided to and relied upon by the Companya™s board of directors (the aBoarda) in connection with the Boarda™s decision to approve the Merger Agreement.
Moreover, the Class Action Complaint alleges that as a result of the false and misleading Definitive Proxy and related filings thereto, the Merger Agreement was consummated and Atherosa™ public stockholders were unlawfully divested of their holdings in the Company.
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and in particular actions involving corporate fraud and wrongdoing. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains offices in New York City, Delaware, California, Florida and Pennsylvania.
You can request additional information concerning this action by visiting the firma™s website: [ www.faruqilaw.com/ATHR ]
If you purchased Atheros securities during the Class Period, you may, no later than 60 days from July 19, 2011 move the court to serve as lead plaintiff of the putative class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
[ jmonteverde@faruqilaw.com ]
Toll Free: (877) 247-4292
Phone: (212) 983-9330
