June 22, 2018 - The case was voluntarily dismissed.
April 20, 2018 - An investor, who currently holds shares of Microsemi Corporation (NASDAQ:MSCC), filed a lawsuit in effort to halt the proposed takeover of Microsemi Corporation by Microchip Technology Incorporated for $68.78 per share.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MSCC stockholders by agreeing to sell Microsemi Corporation cheaply via an unfair process.

Aliso Viejo, CA based Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance.

On March 1, 2018, Microchip Technology Incorporated (NASDAQ: MCHP) and Microsemi Corporation (NASDAQ:MSCC) announced that the two companies have signed an agreement pursuant to which Microchip Technology Incorporated will acquire Microsemi for $68.78 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ:MSCC shareholders will receive is grossly inadequate and undervalues Microsemi Corporation. Indeed, at least one analyst has set the high target price for NASDAQ:MSCC shares at $70.00 per share. Microsemi Corporation reported that its Total Revenue rose from over $1.65 billion for the 52 weeks period that ended on October 2, 2016 to over $1.81 billion for the 52 weeks period that ended on October 1, 2017 and that its Net Loss of $32.60 million for the 52 weeks period that ended on October 2, 2016 turned to a Net Income of $176.30 million for the 52 weeks period that ended on October 1, 2017.

In addition, the plaintiff alleges that the process is also unfair NASDAQ:MSCC stockholders. Indeed