Occam Networks Inc. and Wilson Sonsini Goodrich & Rosati PC have settled a shareholder suit accusing the company’s leadership of selling Occam too cheaply in a roughly $200 million merger in 2010 with Calix Inc. The settlement came midway through a scheduled 10-day trial in Delaware’s Chancery Court. Occam Networks had filed a cross-claim against Wilson Sonsini, alleging that they aided and abetted in fiduciary breach liability. Occam Networks had previously settled with the shareholders.
The parties went to mediation during the trial and it resulted in the settlement. Vice Chancellor J. Travis Laster approved a severance and stay of shareholder claims against Wilson Sonsini on April 6, and said terms would be presented to the court and to the class in a notice.
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.