SAN DIEGO, CA / ACCESSWIRE / June 26, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held Applied Micro Circuits Corporation (NASDAQ: AMCC) shares.
Investors, who held shares of Applied Micro Circuits Corporation (NASDAQ: AMCC) and received Co MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On November 21, 2016, MACOM Technology Solutions Holdings, Inc. announced it has entered into an agreement to acquire Applied Micro Circuits Corporation (NASDAQ: AMCC) for approximately $8.36 per share, consisting of $3.25 in cash and 0.1089 MACOM shares per share of Applied Micro. Based on MACOM's closing stock price on November 18, 2016, Applied Micro shareholders received compensation valued at approximately $8.36 per share.
In December 2016, a lawsuit was filed in connection with the takeover of Applied Micro Circuits Corporation by MACOM Technology Solutions Holdings, Inc. The plaintiff alleged that the Recommendation Statement filed with the SEC in connection with the takeover was materially deficient and misleading because it failed to disclose material information about the process leading to the Merger Agreement. The plaintiff said that without all material information AppliedMicro stockholders cannot make an informed decision to exchange their shares in the Tender Offer. In April the case was voluntarily dismissed.
Those who held shares of Applied Micro Circuits Corporation (NASDAQ: AMCC) and received MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI) shares as a result of the takeover might have still certain options and should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.