SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of Hutchinson Technology Inc. (HTCH) Over the Proposed S...
November 05 2015 - 3:43PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Hutchinson Technology Inc. (“Hutchinson” or the
“Company”) (NasdaqGS:HTCH) for potential breaches of fiduciary
duties in connection with the sale of the Company to TDK
Corporation for approximately $221 million.
The Company’s stockholders will only receive $3.62 in cash per
share (plus up to $0.38 per share in a possible additional
consideration) of Company common stock they own. However, the offer
is below both the median analyst price target of $4.00 per share
and the 52-week high of $4.25 per share.
Click here for more information:
www.faruqilaw.com/HTCH. There is no cost or
obligation to you.
The investigation focuses on whether Hutchinson’s Board of
Directors breached their fiduciary duties to the Company’s
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Hutchinson’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients. To keep track of the latest
securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
If you own common stock in Hutchinson and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/HTCH or contact Juan
Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or
by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2015 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151105006746/en/
Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew
York, NY 10017Attn: Juan Monteverde,
Esq.jmonteverde@faruqilaw.comToll Free: (877) 247-4292Phone: (212)
983-9330
Hutchinson (NASDAQ:HTCH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hutchinson (NASDAQ:HTCH)
Historical Stock Chart
From Apr 2023 to Apr 2024