Law360, New York (January 10, 2012, 6:51 PM ET) -- A Novellus Systems Inc. shareholder hit the company, its board of directors and others with a putative class action in California federal court Friday in an attempt to halt Lam Research Corp.'s proposed $3.3 billion acquisition of the semiconductor equipment manufacturer.
Plaintiff Sunil Nagpal says Lam Research's all-stock bid for Novellus, announced in December, is a raw deal for shareholders and undervalues the company.
Lam Research, which is named as a co-defendant in the suit, is paying little to no premium for Novellus, while other acquirers...
Novellus Investor Sues To Block $3B Lam Buy
To view the full article, take a free trial now.
