SAN DIEGO, Sept. 9, 2016 /PRNewswire/ -- Robbins Geller
Rudman & Dowd LLP ("Robbins Geller") today announced that a
class action has been commenced by an institutional investor on
behalf of holders of FEI Company ("FEI") (NASDAQ:FEIC) common stock
on May 26, 2016, in connection with
the acquisition of FEI by Thermo Fisher Scientific Inc. and Polpis
Merger Sub Co. (collectively, "Thermo
Fisher"). This action was filed in the District of
Oregon and is captioned City of
Hialeah Employees' Retirement System v. FEI Company, et al.,
No. 3:16-cv-01792.
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
djr@rgrdlaw.com. 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.
The complaint charges FEI, its Board of Directors and
Thermo Fisher with breaches of
fiduciary duty and/or violations of the Securities Exchange Act of
1934 ("1934 Act"). FEI designs, manufactures and supports a
broad range of high-performance microscopy workflow solutions that
provide images and answers at the micro-, nano- and picometer
scales.
On May 27, 2016, FEI and Thermo
Fisher announced that they had entered into a definitive merger
agreement under which FEI would be acquired by Thermo Fisher (the "Acquisition").
Following a vote of FEI shareholders approving the Acquisition, FEI
stockholders received $107.50 in cash
for each share of FEI common stock held.
The complaint alleges defendants breached their fiduciary duties
and/or aided and abetted such breaches and violated state and
federal law in connection with the Acquisition. Specifically,
the complaint alleges that in an attempt to secure shareholder
support for the Acquisition, on June 24,
2016, defendants issued a materially false and misleading
Preliminary Proxy Statement on Schedule 14A (the "Proxy").
The Proxy, which recommended that FEI shareholders vote in favor of
the Acquisition, omits and/or misrepresents material information
about the unfair sales process for the Company, the unfair
consideration offered in the Acquisition, and the actual intrinsic
value of the Company on a standalone basis and as a merger partner
for Thermo Fisher in contravention
of §§14(a) and 20(a) of the 1934 Act and/or defendants' fiduciary
duty of disclosure under state law.
Plaintiff seeks injunctive relief on behalf of holders of FEI
common stock on May 26, 2016.
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 one of the leading law
firms advising U.S. and international institutional 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 and was
ranked first in both the total amount and number of shareholder
class action recoveries in ISS's SCAS Top 50 Report for the last
two years. 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 strives to implement corporate
governance reforms, helping to improve the financial markets for
investors worldwide. Please visit www.rgrdlaw.com for more
information.
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