Exar Corporation is an American semiconductor manufacturer.

According to the Complaint, on March 28, 2017, Exar’s Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with MaxLinear. Pursuant to the terms of the Merger Agreement, MaxLinear commenced a tender offer set to expire on May 11, 2017, and stockholders of Exar will receive $13.00 in cash for each share of Exar common stock.

On April 13, 2017, Defendants filed a Solicitation/Recommendation Statement (the “Solicitation Statement”) with the United States Securities and Exchange Commission 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.

Pursuant to a Stipulation by the parties, this case was ordered dismissed on June 12, 2017.