WILMINGTON, Del., March 13, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Northern District of California on behalf of holders of InvenSense, Inc. (“InvenSense”) (NYSE: INVN ) common stock in connection with the proposed acquisition of InvenSense by TDK Corporation and TDK Sensor Solutions Corporation (collectively, “TDK”) announced on December 21, 2016 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against InvenSense, its Board of Directors (the “Board”), and TDK, is captioned Nuzzo v. InvenSense, Inc. , Case No. 5:17-cv-00859 (N.D. Cal.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A. , 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com ; or at: http://rigrodskylong.com/investigations/inven...vn-buyout/ .
On December 21, 2016, InvenSense entered into an agreement and plan of merger (the “Merger Agreement”) with TDK. Pursuant to the Merger Agreement, InvenSense shareholders will receive $13.00 per share in cash in a transaction valued at approximately $1.3 billion (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a proxy statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission on February 3, 2017. The Proxy Statement, which recommends that InvenSense stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to the opinions and analyses of InvenSense’s financial advisor. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of InvenSense common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than May 12, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A. , with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
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CONTACT: Rigrodsky & Long, P.A. Seth D. Rigrodsky Gina M. Serra (888) 969-4242 (302) 295-5310 Fax: (302) 654-7530 info@rl-legal.com http://www.rigrodskylong.com
