Wolf Haldenstein Secures $119 Million in Merger Valuation on Behalf of Integrated Silicon Solution Shareholder Class Members

Wolf Haldenstein Secures $119 Million in Merger Valuation on Behalf of Integrated Silicon Solution Shareholder Class Members

Wolf Haldenstein served as co-counsel in a matter arising out of the acquisition of Integrated Silicon Solutions, Inc., a Delaware incorporated company, by a consortium of private equity firms.  After filing a detailed complaint, the Firm zealously advocated on behalf of the class to ensure that the shareholders’ rights and interests were protected.  When a new potential suitor emerged, Wolf Haldenstein contacted company management and urged them to negotiate in good faith and waive a standstill provision that was in effect with another suitor that contractually forbade that potential suitor from making a topping bid to acquire the company.

The Firm was able to secure an injunction of the shareholder vote on the merger until Defendants disclosed the existence of the standstill agreement and information concerning conflicts of interest.  In addition to securing this injunction, Wolf Haldenstein became directly involved in the negotiations regarding price after the company’s management failed to respond to a bid.

Wolf Haldenstein contributed to shareholders realizing an increase in merger consideration from an initial price of $19.25 per share to $23.00 per share – approximately $119 million in total value – as well as shareholders being provided with material disclosures regarding the process.

Wolf Haldenstein has more than forty years of experience litigating complex securities and shareholder actions. A leader in plaintiffs’ contingency-based litigation, the Firm has recouped over seven billion dollars ($7 billion) on behalf of shareholders.