NEW YORK -- (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:
Contacts:
Juan E. Monteverde, Esq.
FARUQI & FARUQI, LLP
369
Lexington Ave, 10th Floor
New York, NY 10017
Telephone: (877)
247-4292 or (212) 983-9330
E-mail: jmonteverde@faruqilaw.com
Source: Faruqi & Faruqi, LLP
© 2024 Canjex Publishing Ltd. All rights reserved.