Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against Varian Medical Systems, Inc. (VAR)


James M. Wilson, Jr. James M. Wilson, Jr. James M. Wilson, Jr.
Partner

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E-mail: jwilson@faruqilaw.com
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Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California, Case No. 4:20-cv-06266-YGR on behalf of shareholders of Varian Medical Systems, Inc. (“Varian” or the “Company”) (NYSE:VAR) who have been harmed by Varian’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 proposed merger of the Company with Siemens Healthineers AG (the “Proposed Transaction”). 

On August 2, 2020, the Board caused the Company to enter into an agreement and plan of merger under which Varian shareholders stand to receive $177.50 in cash for each share of Varian stock they own.

The complaint alleges that the Form PREM14A Preliminary Proxy Statement filed with the Securities and Exchange Commission violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to Varian shareholders. 
 

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