NEW YORK, Aug. 29, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of IXYS Corporation ("IXYS" or the "Company") (NASDAQ: IXYS) in connection with the proposed acquisition of the Company by Littelfuse Inc. ("Littelfuse") (NASDAQ: LFUS). On August 28, 2017, the Company announced that it had reached a definitive agreement for Littelfuse to acquire all outstanding shares of IXYS in a cash-and-stock transaction. Under the terms of the agreement, the Company's shareholders can elect to receive $23.00 in cash or 0.1265 of a share of Littelfuse common stock for each IXYS share they own.
WeissLaw is investigating whether IXYS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the deal is a lopsided transaction that heavily favors the interests of Littelfuse at the expense of IXYS and its shareholders. Littelfuse stands to gain numerous benefits from this acquisition, including:
- The acceleration of its growth strategy with the help of IXYS's extensive power semiconductor portfolio and technology expertise;
- The expansion and diversification of its presence within the industrial electronics markets; and ultimately,
- The expansion of its customer-base to a more lucrative OEM customer-base.
Littelfuse expects the deal to be immediately accretive to its adjusted earnings-per-share and free cash flow in the first full year post-close.
Given these facts, WeissLaw is investigating whether IXYS's Board acted in the best interests of IXYS's public shareholders to maximize shareholder value prior to entering into the agreement. If you own IXYS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
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] or fill out the form on our website, http://www.weisslawllp.com/ixys-corporation/
SOURCE WeissLaw LLP