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Case Page

 

QLogic Corporation

Case Summary

QLogic Corporation Securities Litigation

Case Summary

Case Status:    DISMISSED  
—On or around 09/22/2016 (Stipulation and order of dismissal (voluntary dismissal))
Current/Last Presiding Judge:  
Hon. James V. Selna

Filing Date: July 22, 2016

QLogic Corporation is an American manufacturer of networking server and storage networking connectivity and application acceleration products.

According to the Complaint, on June 15, 2016, QLogic and Cavium issued a joint press release announcing entry into an Agreement and Plan of Merger dated June 15, 2016 to sell QLogic to Cavium for approximately $15.50 per share, comprised of $11.00 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock, through an exchange offer.

The Complaint alleges the Proposed Transaction is the result of an unfair process and provides the Company’s stockholders with inadequate consideration.

Pursuant to a stipulation by the parties, the Court ordered this case dismissed on September 22, 2016.

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