A lawsuit was filed by investor in shares of International Rectifier Corporation (NYSE:IRF) in effort to stop the proposed takeover and NYSE:IRF stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/08/2014 -- An investor, who currently holds shares of International Rectifier Corporation (NYSE:IRF), filed a lawsuit in effort to halt the proposed takeover of International Rectifier Corporation by Infineon Technologies.
Investors who purchased shares of International Rectifier Corporation (NYSE:IRF) and currently hold any of those NYSE:IRF shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:IRF stockholders by agreeing to sell International Rectifier Corporation too cheaply via an unfair process to Infineon Technologies.
On August 20, 2014, Infineon Technologies AG(FSE: IFX / OTCQX: IFNNY) and International Rectifier Corporation (NYSE: IRF) announced that they have signed an agreement under which Infineon Technologies will acquire International Rectifier for US-Dollar 40 per share in an all-cash transaction valued at approximately US-Dollar 3 billion.
However, the plaintiff claims that the takeover undervalues International Rectifier Corporation and that the process is unfair to IRF investors. Shares of International Rectifier Corporation grew from $14.74 per share in November 2012 to as high as $28.72 per share in June 2014.
On September 4, 2014, NYSE:IRF shares closed at $39.36 per share.
Those who are current investors in International Rectifier Corporation (NYSE:IRF) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com