IXYS Corporation Facing Securities Lawsuit Over ‘Incomplete’ Proxy

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IXYS Corporation and its board of directors are facing a proposed class action lawsuit accusing them of filing a misleading proxy statement in connection with a potential merger between IXYS and Littlefuse, Inc. The plaintiff in the case, an IXYS stockholder, says the proxy statement is missing material information concerning the company’s financial projections and valuation analyses. Without a complete proxy statement, the suit says, stockholders cannot accurately determine whether the deal is fair to them, and are deprived of their ability to “properly exercise their corporate suffrage rights.”