$201M Offer For Silicon Storage Falls Short: Investor

Law360, New York (November 17, 2009, 3:41 PM EST) -- A Silicon Storage Technology Inc. shareholder has filed a putative class action aiming to block Prophet Equity LP's $201 million acquisition of the flash memory manufacturer, arguing that the offer is inadequate in light of SST's bright prospects and high demand for its products from companies including Apple Inc. and Intel Corp.

Named plaintiff Lawrence Fisher filed suit Monday in Santa Clara County Superior Court in California, naming SST, individual members of SST's board of directors, private equity firm Prophet and Prophet subsidiary Technology Resource Holdings...
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