WILMINGTON, Del., April 06, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Northern District of California on behalf of holders of Ultratech Inc. (“Ultratech”) (NASDAQ:UTEK) common stock in connection with the proposed acquisition of Ultratech by Veeco Instruments Inc. and Ulysses Acquisition Subsidiary Corp. (collectively, “Veeco”) announced on February 2, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Ultratech, its Board of Directors (the “Board”), and Veeco, is captioned The Vladimir Gusinsky Rev. Trust v. Ultratech Inc., Case No. 3:17-cv-01468 (N.D. Cal.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com; or at: http://rigrodskylong.com/investigations/ultratech-inc-utek.
On February 2, 2017, Ultratech entered into an agreement and plan of merger (the “Merger Agreement”) with Veeco. Pursuant to the Merger Agreement, Ultratech shareholders will receive $21.75 per share in cash and 0.2675 of a share of Parent common stock for each Ultratech common share in a transaction valued at approximately $815 million (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a proxy statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission on March 13, 2017. The Proxy Statement, which recommends that Ultratech stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to Ultratech’s financial projections, the opinions and analyses of Ultratech’s financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Ultratech common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than June 5, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed 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.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
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