WELCOME TO THE VEECO SECURITIES SETTLEMENT WEBSITE

This website has been established to provide general information related to the proposed settlement of the consolidated case known as Wolther v. Maheshwari, et al., Case No. 18CV329690 (the "Litigation"), pending before the Superior Court of the State of California, County of Santa Clara (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Amended Stipulation of Settlement (the "Stipulation") dated November 30, 2021, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you acquired Veeco Instruments, Inc. ("Veeco") common stock in exchange for Ultratech, Inc. ("Ultratech") common stock pursuant to the registration statement and prospectus (collectively, the "Offering Documents") issued in connection with Veeco's May 26, 2017 merger with Ultratech ("Merger"). 

The law firms of Robbins Geller Rudman & Dowd LLP and Bottini & Bottini, Inc. represent you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Proposed Settlement of Class Action (the "Notice"), Plaintiffs allege that Defendants violated §§11, 12(a)(2) and 15 of the Securities Act of 1933 by reason of material misrepresentations and omissions in the Offering Documents issued in connection with the Merger. Specifically, Plaintiffs allege that the Defendants misrepresented and omitted material facts about Veeco's and Ultratech's businesses, and the competitive landscape in China, including that: (1) Veeco was being decimated by one of its main competitors,  AMEC; (2) several factors were making it difficult for Veeco to compete in China, including in the metal organic chemical vapor deposition equipment ("MOCVD") market (e.g., increased pricing pressure and reduced margins); (3) Veeco was already in an acrimonious intellectual property dispute with AMEC and its supplier, SGL; (4) the Chinese government's role in the China market made it very difficult for Veeco to retain market share; and (5) many risks that Veeco had characterized as hypothetical had already materialized at the time of the Merger. Defendants deny all of Plaintiffs’ allegations. 

If you acquired Veeco common stock in exchange for Ultratech common stock in the Merger, you are a Class Member. As set forth in the Stipulation, excluded from the Class are: Defendants, the officers and directors of Veeco and Ultratech (at all relevant times), members of their immediate families, and their legal representatives, heirs, successors or assigns, and any entity in which any Defendant has a majority ownership interest. Also excluded from the Class are those Persons who would otherwise be Class Members but who timely and validly exclude themselves therefrom.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will result in the creation of a cash settlement fund of $15,000,000 (the “Settlement Fund”). The Settlement Fund, plus accrued interest and minus the costs of the Notice and all costs associated with the administration of the Settlement Fund, as well as attorneys’ fees and expenses, and the payment to Class Representatives for representing the Class, as approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES