Case Summary

National Instruments

NASDAQ: NATI

Case Details

  • Waterford Township Police & Fire Retirement System v. National Instruments Corporation et al.
  • Class Period:May 25, 2022 - January 17, 2023
  • Date Filed:November 30, 2023
  • Jurisdiction:U.S. District Court, Southern District of New York
  • Docket Number: 1:23-cv-10488
  • Lead Plaintiff Deadline: January 29, 2024
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Overview

A class action lawsuit has been filed against National Instruments Corporation, (“National Instruments”, “NATI”, “NI”, or the “Company”) (NASDAQ: NATI) and certain of the Company’s top executive officers alleging that they violated the federal securities laws.  The lawsuit seeks to represent all persons and entities who sold common stock of NATI between May 25, 2022, and January 17, 2023, inclusive (the “Class Period”).

National Instruments is a producer of automated test equipment and virtual instrumentation software. Since October 2023, NATI operates as Emerson Electric Co.’s (“Emerson”) Test and Measurement business unit after getting acquired by Emerson. During the Class Period, NATI common stock traded in an efficient market on the Nasdaq under the ticker symbol “NATI.” As of February 13, 2023, there were approximately 131.5 million shares of NATI common stock issued and outstanding.

The lawsuit alleges that defendants throughout the Class Period made false statements and/or omitted to disclose material information that artificially deflated the price of National Instruments common stock. The lawsuit also alleges that at the time that National Instruments was repurchasing National Instruments stock, defendants knew that National Instruments had received a formal acquisition offer from Emerson. Accordingly, National Instruments had an obligation to disclose that it had received a formal acquisition offer from Emerson or abstain from purchasing National Instruments stock from unsuspecting investors.

The lawsuit alleges that members of the Class who sold shares of NATI common stock: (1) have suffered substantial damages because they relied upon the integrity of the market and sold shares of NATI common stock at artificially deflated prices as a result of the violations of §10(b) and Rule 10b-5; and (2) would not have sold NATI common stock at the prices they sold at, or at all, if they had been aware that the market prices had been artificially and falsely deflated by defendants’ concealment.

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If you sold common stock of NATI between May 25, 2022, and January 17, 2023, inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the National Instruments lawsuit is January 29, 2024.

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