Applied Materials, Inc. (AMAT) Financial News - Varian Semiconductor Sued by Investor Over $4.9 Billion Bid

Applied Materials, Inc. (AMAT)

Varian Semiconductor Sued by Investor Over $4.9 Billion Bid

2011-07-15 04:52:05
Quote: (VSEA)Applied Materials Inc. (AMAT) David Crane also contends Varian directors violated U.S. securities law by issuing misleading proxy materials that failed to fully explain the sales process and why the board “chose to negotiate exclusively with Applied,” according to a complaint filed yesterday in Boston. Shareholders “will be prevented from obtaining a fair price for their common stock” unless a judge and jury stop the transaction under its present terms, Crane said in court papers. Apple Inc. (AAPL)’s iPhone. Bob Halliday, Varian’s chief financial officer, didn’t immediately return a call seeking comment on the lawsuit. Varian Semiconductor rose 8 cents to $61.41 at 10:50 a.m. New York time in Nasdaq stock market trading. The stock has risen 66 percent this year. The case is Crane v. Varian Semiconductor, 11CV11236 RGS, U.S. District Court, District of Massachusetts (Boston). To contact the reporters on this story: Janelle Lawrence in Boston at jmlawren@aol.compmilford@bloomberg.net. mhytha@bloomberg.net ...
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Applied Materials, Inc. Stock Summary

Incorporated in 1967, Applied, a Delaware corporation, provides Nanomanufacturing Technologytm solutions for the global semiconductor, flat panel display, solar and related industries, with a broad portfolio of innovative equipment, service and software products. “Nanomanufacturing” is the production of ultra-small structures, including the engineering of thin layers of film onto substrates. Applied’s customers include manufacturers of semiconductor chips and wafers, flat panel liquid crystal displays (LCDs), photovoltaic (PV) cells and other electronic devices, who use what they manufacture in their own end products or sell the items to other companies for use in advanced electronic components. The Company’s fiscal year ends on the last Sunday in October. Applied is the world’s largest semiconductor fabrication equipment supplier, based on revenue, with the capability to provide global deployment and support services.  ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2007%2f12%2f14%2f0000891618-07-000682.html#FIS_BUSINESS"