Anadigics Investor Seeks Rare 'Quasi-Appraisal' In Del.
Law360, Wilmington (October 11, 2016, 8:51 PM EDT) -- An investor in semiconductor company Anadigics Inc., who is already seeking appraisal of his shares after a $78.2 million acquisition by II-VI Inc., lodged class claims Monday in Delaware Chancery Court asking for an uncommon "quasi-appraisal," alleging company misstatements prevented shareholders from having their stock appraised.
Investor Enrique Elortegui, who also argues Anadigics was undervalued in the merger, claims that when the company sent out its solicitations to recommend the deal, it told shareholders they had the latter of either the deal consummation date or March 21 to exercise their rights to have their shares appraised by the Chancery Court....
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