WILMINGTON, Del., Jan. 30, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Oregon on behalf of holders of Lattice Semiconductor Corporation (“Lattice”) (NASDAQ GS:LSCC) common stock in connection with the proposed acquisition of Lattice by Canyon Bridge Capital Partners, Inc. and its affiliates (collectively, “Canyon Bridge”) announced on November 3, 2016 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Lattice, its Board of Directors (the “Board”), and Canyon Bridge, is captioned Parshall v. Lattice Semiconductor Corp., Case No. 3:17-cv-00035-SI (D. Or.).
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/lattice-semiconductor-corporation-lscc/.
On November 3, 2016, Lattice entered into an agreement and plan of merger (the “Merger Agreement”) with Canyon Bridge. Pursuant to the Merger Agreement, Lattice shareholders will receive $8.30 per share in cash (the “Proposed Transaction”).
The Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, on December 28, 2016, defendants issued materially incomplete disclosures in a Preliminary Proxy Statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission. The Complaint asserts that the Proxy Statement, which recommends that Lattice stockholders vote in favor of the Proposed Transaction, omitted 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 Lattice’s financial projections, the opinions and analyses of Lattice’s financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Lattice common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 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 class, derivative and direct actions, shareholder rights litigation, and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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