TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Applied Micro Circuits Corporation (NASDAQ:AMCC) Investor Lawsuit Against Acquisition By MACOM Technology Solutions Holdings Filed

  • If you purchased shares of Applied Micro Circuits Corporation (NASDAQ:AMCC), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Applied Micro Circuits Corporation
Security
NASDAQ: MTSI

Case Name
Applied Micro Circuits Deal Case 01/09/2017
Type of Lawsuit
Mergers and Acquisition
You must register or login to receive notifications.

Click here to subscribe to Applied Micro Circuits Corporation.
Summary

January 9, 2017 (Shareholders Foundation) - An investor who currently holds shares of Applied Micro Circuits Corporation (NASDAQ:AMCC), filed a lawsuit in effort to halt the proposed takeover of Applied Micro Circuits Corporation by MACOM Technology Solutions Holdings, Inc for a value of approximately $8.36 per share. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:AMCC stockholders by agreeing to sell Applied Micro Circuits Corporation too cheaply via an unfair process to MACOM Technology Solutions Holdings, Inc.

On November 21, 2016, MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI) announced it has entered into an agreement to acquire Applied Micro Circuits Corporation (NASDAQ:AMCC) for approximately $8.36 per share, consisting of $3.25 in cash and 0.1089 MACOM shares per share of Applied Micro. Based on MACOM’s closing stock price on November 18, 2016, Applied Micro shareholders would have received compensation valued at approximately $8.36 per share. However, plaintiff claims that the proposed consideration NASDAQ:AMCC shareholders will receive is grossly inadequate and undervalues Applied Micro Circuits Corporation.

In addition, the plaintiff alleges that the process is also unfair NASDAQ:AMCC stockholders. On January 9, 2017, NASDAQ:AMCC shares closed at $8.25 per share.