Xperi Investor Ends Suit Over TiVo Merger, Pandemic Disclosures

Xperi Corp.'s board escaped a Delaware shareholder lawsuit challenging its $2.4 billion merger with TiVo Corp., with the pension fund plaintiff dropping the case after the company closed the deal and made additional disclosures about the Covid-19 pandemic’s impact on it.

In a joint Delaware Chancery Court filing, Xperi and a United Food and Commercial Workers fund said those supplemental securities filings had made some of the suit’s claims moot, while the transaction’s consummation in June dispensed with the others.

Attorneys for the union fund will seek a fee award “on the grounds that their litigation efforts conferred benefits ...