SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) today announced that a class action has been commenced on behalf of holders of Xcerra Corporation (NASDAQ:XCRA) common stock on August 23, 2017. This action was filed in the District of Massachusetts and is captioned Khan v. Xcerra Corporation, et al., No. 1:17-cv-12226. The complaint charges Xcerra and its Board of Directors with violations of the Securities Exchange Act of 1934 (the “1934 Act”).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Xcerra is a Massachusetts company supplying semiconductor and electronics test equipment. On April 10, 2017, Xcerra and Sino IC Capital Co. Ltd. (“Sino IC Capital”) announced an Agreement and Plan of Merger pursuant to which Unic Capital Management Co., Ltd. – an affiliate of Sino IC Capital – would acquire all of the outstanding shares of Xcerra for $10.25 per share (the “Acquisition”).
On September 5, 2017, defendants issued a Definitive Proxy Statement on Schedule 14A (the “Proxy”), which recommended that Xcerra shareholders accept the $10.25 per share offer and vote in favor of the Acquisition. The complaint alleges that the Proxy contained false and misleading statements preventing the Company’s shareholders from making a fully informed decision on the Acquisition and inducing the Company’s shareholders into accepting an offer that was unfair compared to the actual intrinsic value of the Company.
Plaintiff seeks to recover damages on behalf of all holders of Xcerra common stock on August 23, 2017. The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.
Robbins Geller is widely recognized as a leading law firm advising and representing U.S. and international investors in securities litigation and portfolio monitoring. With 200 lawyers in 10 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For the third consecutive year, the Firm ranked first in both the total amount recovered for investors and the number of shareholder class action recoveries in ISS's SCAS Top 50 Report. Robbins Geller attorneys have shaped the law in the areas of securities litigation and shareholder rights and have recovered tens of billions of dollars on behalf of the Firm’s clients. Robbins Geller not only secures recoveries for defrauded investors, it also implements significant corporate governance reforms, helping to improve the financial markets for investors worldwide. Please visit http://www.rgrdlaw.com for more information.