December 15, 2011
Bernstein Liebhard LLP is investigating whether the Board of Directors of Novellus Systems, Inc. (“Novellus” or the “Company”) (NASDAQ: NVLS) breached its fiduciary duty to its shareholders in agreeing to sell Novellus to Lam Research Corporation.
Under the terms of the agreement, Novellus shareholders will receive 1.125 shares of Lam Research common stock for each share of Novellus that they own, in a tax-free exchange. The investigation is focused on the potential unfairness of the price to Novellus shareholders and the process by which the Novellus Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a Novellus shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.