Class Certified in Action Brought on Behalf of Former Shareholders of Solectron Corp. (NYSE:SLR), Acquired by Flextronics Int’l Ltd. (NASDAQ:FLEX)
August 19, 2010 (San Diego, CA) – Robbins Umeda LLP* announced today that a lawsuit on behalf of former public shareholders of Solectron Corp. (NYSE:SLR) has been certified to proceed as a class action. The class is represented by Robbins Umeda LLP.
Class members include holders of approximately 900 million shares of Solectron common stock before it was acquired by Flextronics (NASDAQ:FLEX), one of Solectron’s competitors in the electronic manufacturing services industry. The suit, Carrigan v. Solectron Corp., et al., Case No. 1:07-CV-087219, seeks a money judgment and related relief based on alleged breaches of fiduciary duty, including loyalty, due care, candor, and Revlon duties to obtain the best value for class members in Flextronics’s acquisition of Solectron.
Institutional and individual shareholders may contact Robbins Umeda LLP for more information at 1-800-350-6003.
* The firm name changed from Robbins Umeda LLP to Robbins Arroyo LLP on January 1, 2013.