ADC Seeks To Settle Suits Over $1B Sale To Tyco

Law360, New York (September 3, 2010, 3:51 PM EDT) -- ADC Telecommunications Inc. is aiming to resolve state and federal litigation brought by shareholders seeking to block the company’s $1.25 billion sale to Tyco Electronics Ltd.

According to a U.S. Securities and Exchange Commission filing Wednesday, ADC said it entered a memorandum of understanding on Aug. 30 with plaintiffs in state court and the U.S. District Court for the District of Minnesota to end all claims related to the merger, and ADC has agreed to pay up to $925,000 for plaintiffs’ counsel fees and expenses....
To view the full article, register now.