Blecher & Collins Announces Status of Minority Shareholders' Lawsuit Against Vishay Intertechnology -- VSH
30 April 2006 The law firms of Hennefer, Finley & Wood and Blecher & Collins, P.C., today provided an update on the status of the Siliconix Incorporated (Nasdaq:SILI) minority shareholders litigation pending against Vishay Intertechnology (NYSE:VSH) and others. (Case No. 1-04-CV-01897). Last year, Vishay acquired the remaining roughly 20% of Siliconix after previously purchasing roughly 80% in 1998. This class action litigation is pending in the Superior Court of California, County of Santa Clara.
On March 7, 2006, the Court rejected Vishay's demurrers, requiring Vishay to answer direct and derivative claims relating to the numerous related party transactions between Siliconix and Vishay. Vishay must also answer quasi-appraisal claims concerning the effect of those transactions on the price paid to acquire Siliconix. The plaintiffs seek quasi-appraisal rights regarding fair value for the minority shareholders interest and punitive damages.
CONTACT: Blecher & Collins
Maxwell M. Blecher
(213) 622-4222
mblecher@blechercollins.com
Source: primezone
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