A lawsuit was filed for investors in shares of Cymer, Inc. (NASDAQ:CYMI) in effort to block the proposed takeover and NASDAQ:CYMI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/05/2012 -- An investor in shares of Cymer, Inc. (NASDAQ:CYMI) filed a lawsuit in effort to stop the buyout of Cymer, Inc. by ASML Holding NV for a value of approximately $ 81.64 per NASDAQ:CYMI share.
Investors who purchased shares of the Cymer, Inc. (NASDAQ:CYMI) prior to October 17, 2012, and currently hold any of those NASDAQ:CYMI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CYMI investors arising out of the attempt to sell the company too cheaply via an unfair process..
On October 17, 2012, Cymer, Inc. (NASDAQ:CYMI) and ASML Holding NV announced that they have entered into an agreement under which ASML Holding NV will acquire all outstanding shares of Cymer in a cash-and-stock transaction currently valued at EUR 1.95 billion. Under the terms of the proposed transaction each Cymer shareholder will receive US$20.00 in cash and a fixed ratio of 1.1502 ASML ordinary shares per Cymer share. Based on a closing price of ASML Holding NV (NASDAQ:ASML) shares on October 16, 2012, of $53.59 per share, Cymer stockholders would receive a value of approximately $81.64 per NASDAQ:CYMI share.
However, the plaintiff says that the offer is unfair to NASDAQ:CYMI stockholders and undervalues the company. In fact, Cymer’s financial performance improved over the past recent years. For instance, Cymer, Inc. reported that its annual Revenue rose from $307.66 million in 2009 to over $594.21 million and its Net Income over the respective time periods increased from $11.98 million to $80.24 million. Furthermore, shares of Cymer, Inc. (NASDAQ:CYMI) grew at an exceptional growth rate. NASDAQ:CYMI shares grew from as low as $16.97 per share in March 2009 to as high as $62.05 per share in August 2012.
Those who are current investors in Cymer, Inc. (NASDAQ:CYMI), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego