WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors (“Board”) of Orbotech Ltd. (“Orbotech” or the “Company”) (NASDAQ GS: ORBK) related to the Company’s entry into an agreement to be acquired by KLA-Tencor Corporation (“KLA-Tencor”) (NASDAQ GS: KLAC) in a transaction valued at approximately $3.4 billion (the “Proposed Transaction”).
On March 18, 2018, the Board caused Orbotech to enter into an agreement and plan of merger (the “Merger Agreement”) with KLA-Tencor. Pursuant to the terms of the Merger Agreement, shareholders of Orbotech will receive $38.86 in cash and 0.25 of a share of KLA-Tencor for each share of Orbotech common stock.
On May 16, 2018, KLA-Tencor filed a Form S-4 Registration Statement (“Registration Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction, which recommends that Orbotech’s shareholders vote in favor of the Proposed Transaction. Rigrodsky & Long, P.A. is investigating possible violations of law related to the Registration Statement, including whether the Registration Statement omits material information with respect to the Proposed Transaction.
If you own common shares of Orbotech and purchased any shares before March 19, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail at firstname.lastname@example.org.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware, Garden City, New York, and San Francisco, California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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