On or around 06/12/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: April 18, 2017
According to the Complaint, on March 28, 2017, Exar’s Board of Directors (the “Board” or “Individual Defendants”) 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 (“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.
Pursuant to a Stipulation by the parties, this case was ordered dismissed on June 12, 2017.
Company & Securities Information
Defendant: Exar Corporation
Headquarters: United States
Ticker Symbol: EXAR
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
The Vladimir Gusinsky Rev. Trust, et al. v. Exar Corporation, et al.