Orbit/FR ($ORFR) $17.85M Investor Settlement

$17,850,000

Cash Settlement

Delaware court of Chancery

Court

2018-0340

Case number

04/06/2018

Class period Start

04/06/2018

Class period End

Orbit/FR has reached a $17.85 million settlement with stockholders to resolve claims related to MVG’s 2018 $3.30-per-share freeze-out merger.

Outline:

In 2018, Microwave Vision, S.A. (MVG), Orbit/FR’s controlling stockholder, bought out Orbit/FR’s minority shares for $3.30 per share in cash. Stockholders claim the freeze-out process and price were unfair to minority holders. The lawsuit centers on claims that MVG used its control position in ways that harmed Orbit/FR and depressed value for the minority. The parties ultimately agreed to a $17.85M cash settlement, subject to Court approval.

Timeline:
March 29, 2018: Orbit/FR executed the merger agreement under which MVG would acquire the shares it did not already own for $3.30 per share in cash.
April 6, 2018: The merger closed, and Orbit/FR survived as a wholly owned subsidiary of MVG.
May 11, 2018: Minerva Group, LP filed the stockholder class action challenging the merger.
September 27, 2025: The Parties agreed to settle the Action.

Background:

Orbit/FR was a Delaware corporation that produced antenna measurement systems specializing in aerospace and defense, and it became a public company through a 1997 IPO. In 2008, MVG acquired a controlling stake and, over time, controlled Orbit/FR and its board.

After MVG became the controlling stockholder, Orbit/FR and MVG entered into arrangements under which MVG charged Orbit/FR management and trademark fees. Stockholders claim these fees did not reflect arm’s-length compensation and diverted value away from Orbit/FR.

In 2012, MVG deregistered Orbit/FR’s stock and eliminated its reporting obligations. Stockholders claim this reduced transparency into Orbit/FR’s standalone performance.

The parties agreed to a $17,850,000 settlement.

What Can Investors Expect Now?

Orbit/FR has reached a $17.85 million settlement with stockholders to resolve claims related to MVG’s 2018 $3.30-per-share freeze-out merger.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section

Case Type

US Securities Class Action

Case Status

Distribution Preparation

Alleged Offence

Mismanagement,

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management,

Shareholder

Security Type

Stocks

Trade Direction

Long

Filing date

05/11/2018

Plaintiffs

AB Value Partners

Attorneys

Abrams & Bayliss LLP

Defendants

Philippe Garreau ; Arnaud Gandois ; Per Iversen

Administrator

Strategic Claims Services

Attorney fee

$4,541,607

Trades matching type

FIFO

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