On or around 05/17/2017 (Other)
Filing Date: March 08, 2017
According to the Complaint, on February 13, 2017, GigPeak’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, IDT commenced a tender offer, set to expire on April 3, 2017, and stockholders of GigPeak will receive $3.08 per share in cash.
On March 7, 2017, defendants filed a Solicitation/Recommendation Statement (the “Solicitation Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Complaint alleges the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.
This case was voluntarily dismissed on April 11, 2017.
Company & Securities Information
Defendant: GigPeak, Inc.
Headquarters: United States
Ticker Symbol: GIG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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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
Vladimir Gusinsky Rev. Trust, et al. v. GigPeak, Inc., et al.