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Xcerra Corp (NASDAQ:XCRA) Investor Lawsuit Against Acquisition By Sino IC Capital Co. Ltd Filed

  • If you purchased shares of Xcerra Corp (NASDAQ:XCRA), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • 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
Xcerra Corp
Security
NASDAQ: XCRA

Case Name
Xcerra Deal Case 08/31/2017
Type of Lawsuit
Mergers and Acquisition
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Summary

September 1, 2017 (Shareholders Foundation) - An investor, who currently holds shares of Xcerra Corp (NASDAQ:XCRA), filed a lawsuit in effort to halt the proposed takeover of Xcerra Corp. by Sino IC Capital Co. Ltd for $10.25 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:XCRA stockholders by agreeing to sell Xcerra Corp too cheaply via an unfair process.

On April 10, 2017 Xcerra Corp (NASDAQ:XCRA) and Sino IC Capital Co. Ltd. announced that Xcerra Corp (NASDAQ:XCRA) and an affiliate of Sino IC Capital , Unic Capital Management Co., Ltd., have entered into an agreement under which Unic Capital Management Co., Ltd., will acquire all outstanding shares of Xcerra Corp (NASDAQ:XCRA) for $10.25 per share in cash.

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