Ixia and Others Face Securities Class Action

New to ClassAction.org? Read our Newswire Disclaimer

Ixia, its Board of Directors, Keysight Technologies, Inc. and Keysight Acquisitions have been hit with a class action lawsuit out of California that alleges the defendants broke the Securities Exchange Act of 1934. According to the complaint, the alleged violations stemmed from the preliminary proxy statement issued in connection with a merger between Ixia and Keysight. According to the suit, the proxy statement was “materially incomplete and misleading” and failed to provide stockholders all the information necessary to make informed decisions regarding the merger, which would offer stockholders $19.65 for each share of Ixia stock held.