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Cymer, Inc. (CYMI) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties In Takeover

  • If you purchased shares of the Cymer, Inc. (NASDAQ:CYMI) prior to October 17, 2012, and currently hold any of those NASDAQ:CYMI shares, you have certain options and you should 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
Cymer, Inc.
Security
NASDAQ: CYMI

Case Name
Cymer Deal Case 10/31/2012
Type of Lawsuit
Mergers and Acquisition
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Summary

Oct. 31, 2012 (Shareholders Foundation) -- An investor in shares of Cymer, Inc. (NASDAQ:CYMI) filed a lawsuit against directors of Cymer, Inc. in effort to block the proposed takeover of Cymer, Inc. for a value of approximately $ 81.64 per NASDAQ:CYMI share.
On October 17, 2012, Cymer, Inc. (CYMI) and ASML Holding NV announced that they have entered into an agreement under which ASML Holding NV will acquire all outstanding shares of Cymer in a cash-and-stock transaction. Based on a closing price of ASML Holding NV shares on October 16, 2012, of $53.59, Cymer stockholders would receive a value of approximately $81.64 per CYMI share.

However, the plaintiff alleges that defendants breached their fiduciary duties arising out of the attempt to sell the company too cheaply via an unfair process. The plaintiff claims that the offer is unfair and undervalues the company.

Indeed, Cymer’s financial performance improved recently. It reported that its annual Revenue rose from $307.66 million in 2009 to over $594.21 million in 2011 and its Net Income over the respective time periods increased from $11.98 million to $80.24 million. Furthermore, shares of Cymer, Inc. grew at an exceptional growth rate. In fact, CYMI shares grew from as low as $16.97 in March 2009 to as high as $62.05 per share in August 2012.