National Instruments Corporation (NATI) Securities Fraud Class Action

The complaint alleges that NATI: (1) deceived the investing public about its prospects; (2) artificially inflated the market price of NATI common stock; and (3) caused investors to sell shares of NATI at artificially deflated prices.

On Jan. 13, 2023, NATI announced that it initiated a review and evaluation of strategic options to maximize shareholder value, adopted a poison pill, and disclaimed that this process would result in a specific transaction. Notably, NATI did not reveal that it already had a significant offer in hand from Emerson Electric to acquire all outstanding NATI shares at a premium purchase price.

Investors learned the truth on Jan. 17, 2023, when Emerson announced an eight-month timeline of previous acquisition communications to NATI. Emerson revealed that it had offered $48/share on May 25, 2023, that it subsequently increased the offer to $53/share on Nov. 3, 2022, and that it reiterated the increased offer on Jan. 11, 2023. Emerson also revealed how, in response to its offer, NATI had increased its financial guidance despite its continued margin expansion and other challenges.

This news drove the price of NATI shares skyrocketing up to as much as $54.69/share on Jan. 17, 2023.

Then, on April 12, 2023, Emerson announced that it entered into a definitive agreement to acquire NATI for $60/share in cash at an equity value of $8.2 billion, representing a premium of nearly 50% over NATI’s closing price on Jan. 12, 2023. The deal closed on Oct. 11, 2023.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the NATI securities class-action case about?

This lawsuit on behalf of investors nationwide alleges that NATI: (1) deceived the investing public about its prospects; (2) artificially inflated the market price of NATI common stock; and (3) caused investors to sell shares of NATI at artificially deflated prices.

WHAT SHOULD I DO?

I worked at NATI. What should I do?

If you were an employee of NATI during the period relevant to the class-action case, you may have valuable information that could be relevant to the lawsuit. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICPATE?

Am I affected? What do I need to do to participate?

If you were an investor in NATI during the relevant period specified in the class-action lawsuit, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any NATI investor participate?

In most class-action cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This class-action only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.