Electro Scientific Industries, Inc. Securities Litigation
On or around 11/29/2018 (Ongoing date of last review)
Filing Date: November 29, 2018
According to the Complaint, Electro Scientific Industries, Inc. ("ESI" or the Company) supplies laser-based microfabrication solutions for the microtechnology industry worldwide.
On October 29, 2018, the Board caused the Company to enter into an agreement and plan of merger (“Merger Agreement”), pursuant to which ESI shareholders will receive $30.00 in cash for each share of ESI common stock they hold (the “Merger Consideration”).
On October 30, 2018, the ESI and MKS Instruments, Inc. ("MKS") announced the proposed merger in a press release.
The Complaint alleges that on November 19, 2018, in order to convince ESI shareholders to vote in favor of the Proposed Transaction, the Board authorized the filing of a materially incomplete and misleading Proxy Statement on Schedule 14A (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act.
Company & Securities Information
Defendant: Electro Scientific Industries, Inc.
Headquarters: United States
Ticker Symbol: ESIO
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
Brian Morris, et al. v. Electro Scientific Industries, Inc., et al.