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Chancery Picks Class Leads For $1B Kyocera-AVX Merger Suit

By Jeff Montgomery (February 9, 2021, 8:48 PM EST) -- The Delaware Chancery Court on Tuesday put Bernstein Litowitz, Friedlander & Gorris and Andrews & Springer at the helm of a consolidated class suit challenging Kyocera Corp.'s purportedly unfair, $1 billion squeeze-out merger with electronics component maker AVX Corp. last year.

The lead counsel selection, which also entailed Friedman Oster & Tejtel and Kaskela Law being named of counsel, came after Vice Chancellor Sam Glasscock III suggested a power-sharing arrangement with Grant & Eisenhofer and Gardy & Notis, a team the court said also produced a strong complaint.

Both teams represent investors challenging Japan-headquartered Kyocera's acquisition of South Carolina-based AVX's public...

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