Recent Security Class Actions

Varian Medical Systems Inc. Common Stock (NYSE: VAR)

Company Name:Varian Medical Systems Inc. Common Stock
Stock Symbol:NYSE: VAR
Class Period Start:08/02/2020
Class Period End (inclusive):09/03/2020
Filing Deadline:11/02/2020

According to the Complaint, Varian Medical Systems, Inc. delivers innovative cancer care technologies and solutions for the Company’s clinical partners around the globe to help them treat millions of patients each year.

This action stems from a proposed transaction announced on August 2, 2020, pursuant to which Varian Medical Systems, Inc. will be acquired by affiliates of Siemens Healthineers AG.

On August 2, 2020, Varian’s Board of Directors caused the Company to enter into an agreement and plan of merger with Siemens Healthineers Holding I GmbH. Pursuant to the terms of the Merger Agreement, Varian’s stockholders will receive $177.50 in cash for each share of Varian common stock they own.

On August 28, 2020, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.