NEW YORK, Dec. 15, 2011 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of Novellus
Systems, Inc. ("Novellus" or the "Company") (Nasdaq: NVLS) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Lam Research
Corp. ("Lam Research") (Nasdaq: LRCX). 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 prior closing prices, the
transaction values Novellus stock at approximately $44.42 per share for a total transaction value of
approximately $3.3 billion. Upon
closing, Lam Research will own approximately 59 percent of the
company and Novellus stockholders will have 41 percent.
Click here to learn how to join the action:
http://www.zlk.com/novellus-nvls, or call: 877-363-5972.
The investigation concerns whether the Novellus Board of
Directors breached their fiduciary duties to Novellus stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Lam Research is underpaying for Novellus
shares, thus unlawfully harming Novellus stockholders.
If you own common stock in Novellus and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in
New York, California and Washington D.C. The firm
has extensive expertise in prosecuting investor securities
litigation involving financial fraud and represents investors
throughout the nation, concentrating its practice in securities and
shareholder litigation. The attorneys at Levi & Korsinsky
have been appointed by numerous courts throughout the country to
serve as lead counsel on behalf of shareholders in major
litigations involving mergers and acquisitions. For more
information, please feel free to contact any of the attorneys
listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP