The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Novellus Sys...
December 22 2011 - 11:48AM
Marketwired
Levi & Korsinsky notifies investors of Novellus Systems, Inc.
("Novellus" or the "Company") (NASDAQ: NVLS) of claims of breaches
of fiduciary duty and other violations of state law against the
board of directors of the Company 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. A complaint was filed in California state
court.
Click here to learn how to join the action:
http://www.zlk.com/novellus-nvls, or call: 877-363-5972.
The claims concern 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
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