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JULY 2019       TAP TIMES          -8-          Dr. Rogers also sought to have several
                                                                members of the Cypress board replaced
                                                                with appointees of his own choosing, in-
                    M&A activity (from 7)                       cluding Daniel McCranie, chairman of ON
                                                                Semiconductor, and Camillo Martino.  Mar-
                                                                tino was former CEO of Silicon Image.
        largest  individual shareholder,  sued  the
        company’s board of directors alleging they
        have a legally mandated “Duty of Candor”                Settlement agreement
        to  make  complete  disclosures  to  Cypress            A few months later, in July 2017, the local
        shareholders  on the election of the board              media was abuzz with the news that Dr.
        of directors.                                           Rogers and Cypress had settled their fued.
                                                                                                       Next page

        A further salvo
        This suit, fi led in Delaware,
        was not the fi rst, but a con-
        tinuing salvo in his battle
        against directors he didn’t
        like.
                                                      Contacts & Sockets
        Dr. Rogers contended that
        Ray Bingham, Cypress’
        board executive director,                     for IC Test Handlers
        was being allowed to violate
        several provisions of the
        company’s “Code of Bus-
        iness Conduct and Ethics.”


        Bingham, said Dr. Rogers,
        while serving as Cypress’
        executive chairman, was
        also a founding partner of
        the Chinese investment
        company Canyon Bridge.



        M&A competitor
        “Backed by the People’s Re-
        public of China, Canyon
        Bridge competes head-on
        with Cypress in the critical
        semiconductor M&A mar-
        ket.”
                                                      Providing over 40 years of Kelvin and

        The litigation contained a                    High Performance contacting solutions
        number of allegations of
        misdeeds by Bingham, in-                      PrecisionContacts.com
        cluding excessive executive                                    916-939-4147
        compensation.





                                     Precision Contact Ad_3.5x5_Final-1.indd   1                           6/25/18   12:18 PM
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