NEW YORK, Jan. 19, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Coherent, Inc. ("Coherent" or the "Company") (NASDAQ: COHR) in connection with the proposed acquisition of the Company by Lumentum Holdings Inc. ("Lumentum") (NASDAQ: LITE). Under the terms of the merger agreement, Lumentum will acquire Coherent in a mixed cash-and-stock transaction, pursuant to which Coherent shareholders will receive $100.00 in cash and 1.1851 shares of Lumentum common stock for each Coherent share that they own, representing implied per-share merger consideration of approximately $226.00 based upon Lumentum's January 15, 2021 closing price of $106.32. Upon closing of the proposed transaction, Coherent stockholders will only own approximately 27% of the combined company.
If you own Coherent shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw LLP is investigating whether (i) Coherent's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Coherent's shareholders; and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]