IXYS, Littelfuse Hit with Proposed Securities Class Action

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A proposed class action has been filed against IXYS Corporation, its board of directors, Littelfuse, Inc., and Iron Merger Co., Inc. over allegations that the defendants misled stockholders about a potential merger between IXYS and Littelfuse. The plaintiff in the case, an IXYS stockholder, claims the defendants omitted material information from a proxy statement filed in connection with the transaction, such as the valuation analyses performed by IXYS’s financial advisor and the projections used in those analyses. The complaint further argues that the statement failed to disclose potential conflicts of interest among the IXYS board of directors, noting that two executives stood to receive “lucrative payments” if the transaction closed.