NEW YORK, Dec. 7, 2015 /PRNewswire/ -- The proposed
acquisition of Mattson Technology, Inc. ("MTSN" or the
"Company") by Beijing E-Town Dragon Semiconductor Industry
Investment Center ("E-Town Dragon") is being investigated by
WeissLaw LLP for possible breaches of fiduciary duty and other
violations of law by the Board of Directors of MTSN. On
December 1, 2015, the Company
announced it had reached a definitive agreement for E-Town Dragon
to acquire all outstanding shares of MTSN in a transaction valued
at approximately $300 million.
Under the terms of the agreement, MTSN shareholders will
receive $3.80 in cash for each MTSN
share they own.
WeissLaw is investigating whether MTSN's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $8.50 per MTSN share, more than double the offer
price. Additionally, the Company's shares traded at $5.10 as recently as March of this year.
Prior to the announcement, MTSN published strong financial results
for the nine-month period ended September 2015. It reported
net income of $10.9 million,
representing a 55% increase year-over-year when compared to the
$4.9 million in net income reported
in the same period of previous year.
Given these facts, WeissLaw is investigating whether MTSN's
Board acted in the best interests of MTSN's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with E-Town Dragon. If you own
MTSN shares and would like more information about your rights or
our investigation, or if you have information to share with us,
please contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP