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