Faruqi & Faruqi, LLP Announces Class Action Lawsuit Against Atheros Communications, Inc.
20 July 2011 - 2:10AM
Business Wire
Notice is hereby given that a class action lawsuit is pending in
the United States District Court for the Northern District of
California on behalf of Joel Krieger individually and on behalf of
all other shareholders of Atheros Communications, Inc. (“Atheros”
or the “Company”) (NASDAQ: ATHR) who held securities on or before
January 5, 2011 and continued to hold through and including June 3,
2011 (the “Class Period”). The Class Action Complaint alleges that
Atheros and certain of its officers and/or directors have violated
sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and
includes a claim for equitable assessment of attorneys’ fees.
A copy of the Class Action Complaint filed in this action can be
viewed on the firm’s website at www.faruqilaw.com
On January 5, 2011, Atheros and Qualcomm, Inc. (“Qualcomm”)
announced that they had entered into a definitive merger agreement
(the “Merger Agreement”) pursuant to which Qualcomm would acquire
Atheros and on February 11, 2011, Atheros issued a Definitive Proxy
to solicit Atheros shareholders’ vote. On March 28, 2011, 74.6% of
Atheros shareholders voted to approve the Merger Agreement based on
the statements in the Definitive Proxy. The Class Action Complaint
alleges that, unbeknownst to Atheros’ shareholders, the Definitive
Proxy failed to disclose material information including the
existence and nature of two key financial analyses that were
performed by the Company’s financial advisor in support of its
fairness opinion and provided to and relied upon by the Company’s
board of directors (the “Board”) in connection with the Board’s
decision to approve the Merger Agreement.
Moreover, the Class Action Complaint alleges that as a result of
the false and misleading Definitive Proxy and related filings
thereto, the Merger Agreement was consummated and Atheros’ public
stockholders were unlawfully divested of their holdings in the
Company.
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm
with extensive experience in prosecuting class actions, and in
particular actions involving corporate fraud and wrongdoing. Faruqi
& Faruqi, LLP, was founded in 1995 and the firm maintains
offices in New York City, Delaware, California, Florida and
Pennsylvania.
You can request additional information concerning this action by
visiting the firm’s website: www.faruqilaw.com/ATHR
If you purchased Atheros securities during the Class Period, you
may, no later than 60 days from July 19, 2011 move the court to
serve as lead plaintiff of the putative class, if you so choose. In
order to serve as lead plaintiff, however, you must meet certain
legal requirements. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew
York, NY 10017Attn: Juan E. Monteverde,
Esq.jmonteverde@faruqilaw.comToll Free: (877) 247-4292Phone: (212)
983-9330
Atheros Communications, Inc. (MM) (NASDAQ:ATHR)
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