Science & Technology
Thu, December 15, 2011
WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Novellus Systems, Inc. (aNovellusa or the aCompanya) (Nasdaq: [ NVLS ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companyas entry into an agreement to be acquired by Lam Research Corp. (aLam Researcha) in an all-stock transaction with an approximate value of $3.3 billion.
Click here to learn more and to discuss your shareholder rights: [ http://investigations.rigrodskylong.com/novellus-systems-inc-nvls/ ].
Under the proposed 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 Researchas stock on December 14, 2011, the transaction values Novellus at a price of $44.42 per common share. Upon closing, Lam Research and Novellus shareholders will own approximately 59 percent and 41 percent, respectively, of the combined company.
The investigation concerns whether Novellusa board of directors adequately shopped the Company to obtain the best price possible for Novellus shareholders before entering into the agreement with Lam Research.
If you own the common stock of Novellus and purchased your shares before December 14, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].
[ Rigrodsky & Long, P.A. ], with offices in Wilmington, Delaware and Garden City, New York, regularly litigates [ securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation ], including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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