ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

SILI Siliconix Incorporated - Common Stock (MM)

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Siliconix Incorporated - Common Stock (MM) NASDAQ:SILI NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Law Offices of Hennefer & Wood and Blecher & Collins Announce: Plaintiffs Intend to Continue Prosecuting Proctor Lawsuit against

10/05/2005 9:57pm

Business Wire


Siliconix (NASDAQ:SILI)
Historical Stock Chart


From Jul 2019 to Jul 2024

Click Here for more Siliconix Charts.
Today the attorneys representing plaintiffs in Proctor v. Vishay Intertechnology, Inc. et al., Case No. 1-04-CV-018977, currently pending in California Superior Court, Santa Clara County, and originally filed on August 12, 2002, issued the following statement: "Apparently, some investors are confused regarding whether all pending lawsuits against Siliconix, Inc. (NASDAQ:SILI) and Vishay Intertechnology, Inc. (NYSE:VSH) are on the verge of settlement. In fact, the case we are prosecuting in California does not look to settle anytime soon. Today Vishay Intertechnology, Inc. filed with the Securities and Exchange Commission a document entitled, "Amendment No. 2 to Form S-4." Page 10 of that document contains the following statement concerning the Proctor lawsuit: -0- *T 'The plaintiff purports to allege both derivative claims on behalf of Siliconix, on which any recovery would inure directly to the benefit of Siliconix and indirectly to its stockholders, and class action claims, on which any recovery would inure directly to Siliconix stockholders who were members of the class. If the plaintiff were to prevail in the case, Vishay could be forced to pay substantial damages, either to Siliconix or directly to the stockholders of Siliconix. 'Because the litigation is in its very early stages, the plaintiff has not had an opportunity to take discovery. An actual trial on the merits of the case would not likely occur in the near term. Accordingly, Siliconix stockholders may not have the ability to assess the value, if any, of the claims made in the litigation, and, if there is value in the claims, whether the value is adequately reflected in the consideration for Siliconix stock currently offered by Vishay.' 'If Vishay is successful in consummating the offer and the merger, any value in the pending litigation may be lost to the public stockholders of Siliconix.' 'If the offer and merger are successfully consummated, Vishay will own 100% of the outstanding equity of Siliconix. In that circumstance, any derivative claims asserted in the pending litigation on behalf of Siliconix, even if successful, may inure solely to the benefit of Vishay. Recovery on the purported class action claims might also be denied to Siliconix stockholders, either because Vishay is successful in having those claims dismissed or they are otherwise mooted as a result of the merger. Thus, the offer and merger may deprive stockholders of any value in the pending litigation.' *T "The attorneys for the plaintiffs in the Proctor v. Vishay litigation intend to prosecute the case regardless of whether Vishay's pending tender offer for Siliconix stock succeeds and will contend that the offer and merger, even if effectuated, do not moot the lawsuit."

1 Year Siliconix Chart

1 Year Siliconix Chart

1 Month Siliconix Chart

1 Month Siliconix Chart

Your Recent History

Delayed Upgrade Clock