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Newport Corp (NASDAQ:NEWP) Investor Lawsuit Over Alleged Wrongdoing In Acquisition By MKS Instruments, Inc

  • Investors who purchased shares of Newport Corp (NASDAQ:NEWP) and currently hold any of those NASDAQ:NEWP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

  • 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
Newport Corp
Security
NASDAQ: NEWP

Case Name
Newport Deal Case 03/11/2016
Type of Lawsuit
Mergers and Acquisition
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Summary

March 11, 2016 (Shareholders Foundation) - An investor who currently holds shares of Newport Corp (NASDAQ:NEWP), filed a lawsuit in effort to halt the proposed takeover of Newport Corp. by MKS Instruments, Inc for $23.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:NEWP stockholders by agreeing to sell Newport Corp too cheaply via an unfair process to MKS Instruments, Inc

On February 23, 2016, MKS Instruments, Inc. (NASDAQ: MKSI) and Newport Corp (NASDAQ:NEWP) announced that they have entered into an agreement for MKS Instruments to acquire Newport Corp (NASDAQ:NEWP) for $23.00 per share.

However, plaintiff claims that the proposed consideration NASDAQ:NEWP shareholders will receive is grossly inadequate and undervalues Newport Corp. Indeed, Newport Corp reported that its Total Revenue rose from $560.05 million for the 12 months period that ended on December 28, 2013 to $605.15 million for the 12 months period that ended on January 3, 2015 and that its respective Net Income grew from $15.60 million to $35.06 million. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:NEWP stockholders.