January 18, 2017 (Shareholders Foundation) - An investor who currently holds shares of Lattice Semiconductor (NASDAQ:LSCC), filed a lawsuit in effort to halt the proposed takeover of Lattice Semiconductor by Canyon Bridge Capital Partners, Inc. for $8.30 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:LSCC stockholders by agreeing to sell Lattice Semiconductor too cheaply via an unfair process to Canyon Bridge Capital Partners.

On November 3, 2016, Lattice Semiconductor (NASDAQ:LSCC) and Canyon Bridge Capital Partners, Inc. announced that Lattice Semiconductor (NASDAQ:LSCC) and Canyon Bridge Acquisition Company, Inc., an affiliate of Canyon Bridge Capital Partners, Inc, have signed an agreement under which Canyon Bridge Capital Partners, Inc will acquire all outstanding shares of Lattice Semiconductor (NASDAQ:LSCC) for approximately $1.3 billion inclusive of Lattice’s net debt, or $8.30 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ:LSCC shareholders will receive is grossly inadequate and undervalues Lattice Semiconductor. In addition, the plaintiff alleges that the process is also unfair NASDAQ:LSCC stockholders.

Shares of Lattice Semiconductor (NASDAQ:LSCC) closed on January 18, 2017 at $7.21 per share.