An investor in Fairchild Semiconductor Intl Inc (NASDAQ:FCS), filed a lawsuit in effort to halt the proposed takeover of Fairchild Semiconductor Intl Inc by ON Semiconductor Corporation.
On November 18, 2015 ON Semiconductor Corporation and Fairchild Semiconductor International Inc. (NASDAQ:FCS) announced that they have entered into an agreement for ON Semiconductor to acquire Fairchild Semiconductor Intl Inc (NASDAQ:FCS) for $20.00 per share in an all cash transaction valued at approximately $2.4 billion.
Investors who purchased shares of Fairchild Semiconductor Intl Inc (NASDAQ:FCS) and currently hold any of those NASDAQ:FCS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:FCS stockholders by agreeing to sell Fairchild Semiconductor Intl Inc too cheaply via an unfair process to ON Semiconductor Corporation. The plaintiff claims that the proposed consideration NASDAQ:FCS shareholders will receive is grossly inadequate and undervalues Fairchild Semiconductor International Inc. Indeed, shares of Fairchild Semiconductor Intl Inc traded in the open market as high as $20.39 per share in May 2015. Fairchild Semiconductor Intl Inc reported that its Total Revenue rose from $1.4 billion for the 52 weeks period that ended on December 29, 2013 to over $1.43 billion for the 52 weeks period that ended on December 28, 2014. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:FCS stockholders.
Shares of Fairchild Semiconductor Intl Inc (NASDAQ:FCS) closed on January 11, 2016 at $20.95 per share.
Those who are current investors in Fairchild Semiconductor Intl Inc (NASDAQ:FCS) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com