Diceon Files Suit to Block Takeover: Diceon...
From Times Staff and Wire Reports
Diceon Files Suit to Block Takeover: Diceon Electronics Inc. has filed a federal lawsuit to block an unsolicited $27.2-million takeover bid by a San Diego investment firm, the Irvine company announced. The suit, filed in U.S. District Court in Wilmington, Del., alleges that Calvary Partners LP has made false and misleading statements about Diceon’s proposed bylaw amendments and that Calvary has failed to disclose information required by the Securities and Exchange Commission. Calvary’s bid, made at the end of November, came after Diceon laid off 225 of its 1,500 employees in September and announced that it would take a $5-million writeoff in restructuring its manufacturing operations. Executives at Diceon could not be reached for comment.
