June 12, 2019 - The case was voluntarily dismissed.

May 9, 2019 - An investor, who currently holds shares of Quantenna Communications, Inc. (NASDAQ: QTNA), filed a lawsuit against the takeover of Quantenna Communications, Inc. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: QTNA stockholders by agreeing to sell Quantenna Communications, Inc. cheaply via an unfair process.

San Jose, CA based Quantenna Communications, Inc. designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas.

U.S. District Court for the District of Delaware

On Mar. 27, 2019, ON Semiconductor Corporation (Nasdaq: ON) and Quantenna Communications, Inc.(Nasdaq: QTNA) announced that they have entered into an agreement for ON Semiconductor to acquire Quantenna for $24.50 per share in an all cash transaction. However, plaintiff claims that the proposed consideration NASDAQ: QTNA shareholders will receive is grossly inadequate and undervalues Quantenna Communications, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: QTNA shares at $25.00 per share. Quantenna Communications, Inc. reported that its annual Total Revenue rose from $176.35 million in 2017 to $220.46 million in 2018. In addition, the plaintiff alleges that the process is also unfair NASDAQ: QTNA stockholders. The plaintiff claims that the defendants agreed to preclusive merger protection devices, such as a $32 million termination fee provision and a no solicitation provision, that deter other bidders from making a superior offer for Quantenna Communications, Inc.