Kyocera To Pay AVX Investors $50M To End Lawsuit Over Merger.

jim · 2022-09-25T16:00:08-04:00

Kyocera, AVX Board Pay $50 Million to End $1 Billion Buyout Case Japanese company accused of timing deal to exploit stock dip Investors say they’ll seek roughly $10 million in legal fees Kyocera Corp. and board members at AVX Corp., which the Japanese conglomerate took private for $1 billion in 2020, will pay about $50 million to end litigation challenging the transaction, according to filings in Delaware’s Chancery Court. The settlement, docketed Wednesday, calls for the $49.9 million payment to be made by insurers for Kyocera and the AVX directors to former investors in the South Carolina-based electronics company. Because the case is a class action, the pact requires the approval of the presiding judge, Vice Chancellor Sam Glasscock III. Counsel for the investors will seek legal fees “not to exceed 21.5%" ... To read the full article log in.

Tonernews.com, September 25, 2022. USA

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Kyocera, AVX Board Pay $50 Million to End $1 Billion Buyout Case
Japanese company accused of timing deal to exploit stock dip

Investors say they’ll seek roughly $10 million in legal fees
Kyocera Corp. and board members at AVX Corp., which the Japanese conglomerate took private for $1 billion in 2020, will pay about $50 million to end litigation challenging the transaction, according to filings in Delaware’s Chancery Court.

The settlement, docketed Wednesday, calls for the $49.9 million payment to be made by insurers for Kyocera and the AVX directors to former investors in the South Carolina-based electronics company. Because the case is a class action, the pact requires the approval of the presiding judge, Vice Chancellor Sam Glasscock III.

Counsel for the investors will seek legal fees “not to exceed 21.5%” …

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September 25, 2022 at 4:00 PM

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