Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against Emulex Corporation (ELX)
28 Abril 2015 - 12:00AM
Business Wire
Notice is hereby given that Faruqi & Faruqi, LLP has filed a
class action lawsuit in the United States District Court for the
Central District of California, case no. 8:15-cv-00554, on behalf
of stockholders of Emulex Corporation (“Emulex” or the “Company”)
(NYSE: ELX) who held (and continue to hold) Emulex securities
acquired on or before February 25, 2015, when the Company agreed to
be acquired, via a tender offer, by Avago Technologies Wireless
(U.S.A.) Manufacturing, Inc. (“Avago”) through Emerald Merger Sub,
Inc. (“Merger Sub”).
If you wish to obtain information concerning this action or view
a copy of the complaint, you can do so by clicking here:
www.faruqilaw.com/EmulexNotice.
The complaint charges Emulex, its board of directors, Avago and
Merger Sub with violations of the Securities Exchange Act of 1934
(the “Exchange Act”).
On February 25, 2015 Emulex, Avago and Merger Sub entered into a
definitive Agreement and Plan of Merger (the “Merger Agreement”).
Pursuant to the terms of the Merger Agreement, Avago commenced its
Tender Offer on April 7, 2015. The Tender Offer is scheduled to
expire at 12:00 midnight EST on May 5, 2015. Following the
completion of the Tender Offer, and subject to the terms and
conditions of the Merger Agreement, Merger Sub will be merged with
and into Emulex, with Emulex surviving as a wholly owned subsidiary
of Avago (the “Merger”).
Concurrent to the execution of the Merger Agreement, certain
Emulex directors and executive officers entered into a Tender and
Support Agreement (“Support Agreement”) with Avago and Merger Sub,
pursuant to which they have agreed to tender their Emulex shares,
representing 2.5% of Emulex outstanding public stock, in the Tender
Offer.
The complaint alleges that the Schedule 14D-9
Solicitation/Recommendation Statement, which recommended that
Emulex stockholders tender their shares, omitted and/or
misrepresented material information in contravention of Sections
14(d), 14(e) and 20(a) of the Exchange Act. The omitted information
is material to the impending decision of Emulex shareholders on
whether or not to tender their shares and/or whether to seek
appraisal for their shares. The complaint also alleges that the
$8.00 per share offer price is inadequate, as Emulex has
experienced significant growth in recent months and has
consistently exceeded management’s revenue and earnings
expectations. The offer price also fails to adequately value
Emulex’s product portfolio and prospects for future growth.
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm
with extensive experience in prosecuting class actions, and
significant expertise in actions involving corporate fraud. Faruqi
& Faruqi, LLP, was founded in 1995 and the firm maintains its
principal office in New York City, with offices in Delaware,
California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. 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. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Juan E. Monteverde, Esq.FARUQI & FARUQI, LLP369 Lexington
Ave, 10th FloorNew York, NY 10017Telephone: (877) 247-4292 or (212)
983-9330E-mail: jmonteverde@faruqilaw.com
Emulex (NYSE:ELX)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Emulex (NYSE:ELX)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024