NEW YORK, NY / ACCESSWIRE / October 3, 2018 / Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the Northern District of California, Case No. 3:18-cv-03435-JD, on behalf of public common shareholders of Oclaro, Inc., ("Oclaro" or the "Company") (NASDAQ: OCLR) who held Oclaro securities on the record date May 15, 2018 (the "Class Period"), and have been harmed by Oclaro's and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Lumentum Holdings Inc. ("Lumentum").
Under the terms of the transaction, Oclaro shareholders will receive $5.60 in cash and 0.0636 shares of Lumentum common stock (the "Merger Consideration") for each share of Oclaro common stock they own. The complaint alleges that the Merger Consideration is inadequate and that the Proxy Statement provided shareholders with materially incomplete and misleading information about the Company's financials and the Merger, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the complaint alleges that the Proxy Statement contained materially incomplete and misleading information concerning: (i) financial projections for Oclaro and Lumentum; (ii) the valuation analyses performed by the Company's financial advisor in support of its fairness opinion; and (iii) the background process leading up to the Merger. The special meeting of Oclaro stockholders to vote on the Merger was held on July 10, 2018.
If you wish to serve as lead plaintiff, you must move the Court no later than December 3,2018. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Clickhere for more information: https://monteverdelaw.com/case/oclaro-inc . It is free and there is no cost orobligation to you.
Monteverde & Associates PC is a national class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating mergers & acquisitions and securities class actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341
Attorney Advertising. (C) 2018 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
SOURCE: Monteverde & Associates PC