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 04:52:05Quote: (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 â€œchose to negotiate exclusively with Applied,â€ according to a complaint filed yesterday in Boston. Shareholders â€œwill be prevented from obtaining a fair price for their common stockâ€ unless a judge and jury stop the transaction under its present terms, Crane said in court papers. Apple Inc. (AAPL)â€™s iPhone. Bob Halliday, Varianâ€™s chief financial officer, didnâ€™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 email@example.com@bloomberg.net. firstname.lastname@example.org ...
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