Science & Technology
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smithannounces that it is investigating potential claims against the Board of Directors of Novellus Systems, Inc. ( aNovellusa or the aCompanya) (NASDAQ: NVLS) related to the proposed acquisition of the Company by Lam Research Corp. Under the terms of the transaction, holders of Novellus common stock will receive 1.125 shares of Lam Research common stock for each share of Novellus common stock they own. Based on closing prices, this has an approximate value of $44.42 per share. The transaction is valued at approximately $3.3 billion.
The investigation concerns whether the Board of Directors of Novellus breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has sky rocketed from $26.22 on October 3, 2011 to $37.07 on December 7, 2011.
If you are a shareholder of Novellus, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].