Law 360 Covers Robbins Umeda LLP’s* Class Action Suit Challenging Solectron-Flextronics Acquisition
On August 19, 2010, Law360 reported that the California Superior Court certified a class of former shareholders of Solectron Corp. who lost their positions when Solectron was acquired by former rival Flextronics International Ltd. in October 2007. The suit alleges that the process leading to the deal was uninformed, conflicted, and not designed to obtain the best value available for Solectron shareholders, and that Solectron’s directors and officers breached their fiduciary duties by failing to fully and fairly disclose available information to shareholders regarding the deal. The class is represented by Robbins Umeda LLP in Carrigan v. Solectron Corp. et al., Case No. 1:07-cv-087219 (Santa Clara Superior Court).
* The firm name changed from Robbins Umeda LLP to Robbins Arroyo LLP on January 1, 2013.