Electro Scientific Industries, Inc. Securities Litigation (2018)

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Lawsuit Overview

Defendant:Electro Scientific Industries, Inc.
Date Filed:November 29th, 2018
Sector:Miscellaneous
Industry:Industrial Machinery/Components

According to the Complaint, Electro Scientific Industries, Inc. ("ESI" or the Company) supplies laser-based microfabrication solutions for the microtechnology industry worldwide.

On October 29, 2018, the Board caused the Company to enter into an agreement and plan of merger ("Merger Agreement"), pursuant to which ESI shareholders will receive $30.00 in cash for each share of ESI common stock they hold (the "Merger Consideration").

On October 30, 2018, the ESI and MKS Instruments, Inc. ("MKS") announced the proposed merger in a
press release.

The Complaint alleges that on November 19, 2018, in order to convince ESI shareholders to vote in favor of the Proposed Transaction, the Board authorized the filing of a materially incomplete and misleading Proxy Statement on Schedule 14A (the "Proxy") with the Securities and Exchange Commission ("SEC"), in violation of Sections 14(a) and 20(a) of the Exchange Act.

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First Identified Complaint

Brian Morris, et al. v. Electro Scientific Industries, Inc., et al.

Date Filed:November 29th, 2018
Class Period Start:October 30th, 2018
Class Period End:November 29th, 2018
First Identified Complaint Filings
#Document TitleFiling Date