Kramer Levin Wins Dismissal of Shareholder Lawsuit Before California Court of Appeal

A February 19, 2013 decision of the California Court of Appeal may have finally ended more than ten years of pre-discovery litigation for Kramer Levin’s client, Vishay Intertechnology, a manufacturer of electronics components, whose stock is traded on the NYSE.   The Court of Appeal for the Sixth Appellate District in Proctor v. Vishay Intertechnology, Inc., affirmed the dismissal of a shareholders’ class action complaint challenging Vishay’s tender offer for and merger with  Siliconix, Inc., a manufacturer of semiconductor products.   The Court held that the complaint was conclusively barred by the collateral estoppel effect of a decision by Delaware Chancellor Leo Strine issued in connection with a rarely-granted anti-suit injunction permanently enjoining the class action litigation.    

Vishay was represented by Kramer Levin attorneys Alan R. Friedman, Jonathan M. Wagner, and Adina C. Levine.