LTX-Credence Shareholders Sue To Stop Verigy Merger

Law360, New York (December 1, 2010, 4:35 PM EST) -- The shareholders of LTX-Credence have tried to thwart the company's proposed merger with Verigy Ltd., alleging in a new suit that the semiconductor test company's directors breached their fiduciary duties by failing to negotiate a better price for the company in the deal.

Shareholder Charles Keuler filed the proposed class action against the company and its directors on Tuesday in the U.S. District Court for the District of Massachusetts, accusing them of designing an unfair sales process that gave an advantage to Singapore-based Verigy and discouraged...
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