Hutchinson Technology Incorporated ("Hutchinson") designs and manufactures products that require chemical, mechanical and electronic technologies such as electronic components, power supplies, magnetic application products, and energy devices.

According to the Complaint, the Proxy recommends that Hutchinson shareholders vote in favor of a Proposed Transaction whereby Hutchinson will merge with Hydra Merger Sub, Inc. and become a wholly owned subsidiary of Headway Technologies, Inc. Pursuant to the terms of the definitive agreement and plan of merger these entities entered into, Hutchinson shareholders stand to receive $3.62 in cash per share and up to an additional $0.38 in cash under certain circumstances (the “Merger Consideration”).

The Complaint alleges the Merger Consideration and the process by which Defendants propose to consummate the Proposed Transaction are fundamentally unfair to Plaintiff and the other common shareholders of Hutchinson.

On April 20, 2016, this action was consolidated under 15-cv-4356.

On October 25, 2016, this case was dismissed with prejudice.