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If you purchased shares of International Rectifier Corporation (NYSE:IRF) and currently hold any of those NYSE:IRF shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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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
August 29, 2014 (Shareholders Foundation) - An investor, who currently holds shares of International Rectifier Corporation (NYSE:IRF), filed a lawsuit in effort to halt the proposed takeover of International Rectifier Corporation by Infineon Technologies.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:IRF stockholders by agreeing to sell International Rectifier Corporation too cheaply via an unfair process to Infineon Technologies.
On August 20, 2014, Infineon Technologies AG(FSE: IFX / OTCQX: IFNNY) and International Rectifier Corporation (NYSE: IRF) announced that they have signed an agreement under which Infineon Technologies will acquire International Rectifier for US-Dollar 40 per share in an all-cash transaction valued at approximately US-Dollar 3 billion.
However, the plaintiff claims that the takeover undervalues International Rectifier Corporation and that the process is unfair to IRF investors. Shares of International Rectifier Corporation grew from $14.74 per share in November 2012 to as high as $28.72 per share in June 2014.
On August 29, 2014, NYSE:IRF shares closed at $39.40 per share.