Law360, New York (April 2, 2009, 12:00 AM EDT) -- An institutional investor has sued semiconductor equipment manufacturer Axcelis Technologies Inc. in a bid to get its hands on the company's corporate records after Axcelis' board rejected a $630 million merger offer by a Japanese rival and ignored shareholder calls for the ousting of three directors.
Michigan pension fund City of Westland Police & Fire Retirement System filed the complaint Thursday in the Delaware Chancery Court after Axcelis refused to open its books for inspection in December.
The shareholder says it has grounds to believe that...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.