Securities Lawsuit Filed Against InvenSense and TDK Sensor Solutions

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InvenSense Inc., its board of directors, and TDK Sensor Solutions Corporation are the defendants in a proposed securities class action brought on behalf of InvenSense’s public stockholders who, the plaintiff claims, will suffer harm in the company’s proposed acquisition. On March 10, 2017, InvenSense allegedly filed a proxy statement that urges stockholders to approve TDK’s plan to acquire InvenSense’s outstanding stock for $13.00 cash per share. The complaint argues that the proxy statement is misleading to stockholders, claiming that the analyses performed by InvenSense’s financial advisor are “questionable” and the acquisition “seriously undervalues the Company and its long-term prospects.”