SAN DIEGO, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for investors who formerly held Ultratech, Inc. (NASDAQ: UTEK) shares and received Veevo Instruments Inc (NASDAQ: VECO) shares as a result of the takeover.
Investors, who held shares of Ultratech, Inc. (NASDAQ: UTEK) and received Veevo Instruments Inc (NASDAQ: VECO) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On February 2, 2017, Veeco Instruments Inc. and Ultratech, Inc. announced that they have signed an agreement for Veeco Instruments Inc. to acquire Ultratech, Inc. Under the terms of the transaction Ultratech shareholders will receive $21.75 per share in cash and 0.2675 of a share of Veeco common stock for each Ultratech common share outstanding. Based on Veeco's closing stock price on February 1, 2017, the transaction consideration is valued at approximately $28.64 per Ultratech share.
On June 8, 2018, an Ultratech shareholder who received Veeco Instruments Inc stock as part of the consideration for the Ultratech acquisition filed a lawsuit in connection with the takeover of Ultratech, Inc by Veeco Instruments. Two additional lawsuits were filed in August 2018 and in December 2018 a consolidated complaint was filed. The plaintiffs allege false/misleading statements in the registration statement and prospectus relating to the acquisition of Ultratech, Inc by Veeco Instruments. More specifically the complaint alleges the failure to disclose delays in the advanced packaging business, increased MOCVD competition in China, and an intellectual property dispute.
Those who held shares of Ultratech, Inc. (NASDAQ: UTEK) and received Veevo Instruments Inc (NASDAQ: VECO) shares as a result of the takeover should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108