On or around 09/22/2016 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: July 22, 2016
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 (the “Merger Agreement”) 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 “Offer Price”).
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.
Company & Securities Information
Defendant: QLogic Corporation
Headquarters: United States
Ticker Symbol: QLGC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Stephen Bushansky, et al. v. QLogic Corporation, et al.