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San Jose-based television and PC display chip maker Genesis Microchip Inc. has acquired Tualatin, Ore.’s Pixelworks Inc. in a stock deal worth about $584 million. Attorneys in the Palo Alto office of Wilson Sonsini Goodrich & Rosati represented Genesis. Lawyers in the Menlo Park office of O’Melveny & Myers represented Pixelworks. The deal utilized a reverse merger structure, according to an attorney who worked on the deal. Under this structure, Pixelworks will be the parent corporation of Genesis, which will be a wholly-owned subsidiary. The combined company will be called Genesis Pixelworks. Last year, Genesis bought another display chip maker called Sage Inc. for $402 million. With the Pixelworks deal, Genesis will now control about 65 percent of the display chip market. Antitrust filings with the Federal Trade Commission and the Department of Justice will be made shortly. The new company will issue a little more than two shares of Pixelworks stock for each Genesis share. The company will also offer Pixelworks stock options for Genesis options. Wilson partner Selim Day led the deal team. Corporate associates Allison Spinner, Craig Lang, Tyrome Brown, Daniel Cohen, Sunny Chu and Golnaz Mozaffarian worked on the deal. O’Melveny partner Karen Dreyfus led the deal in the Menlo Park office and partner David Krinsky led the deal team in the firm’s Newport Beach office. BAKER v. JEWEL An Illinois judge threw out a $125 million class action filed against two supermarket chains that allegedly conspired to fix the price of milk in their Chicago locations. Baker v. Jewel Food Stores, 00-L9664, alleged that the two markets — Dominick’s Finer Foods, owned by Pleasanton-based Safeway Inc. and Jewel Food Stores, owned by Albertson’s Inc. — conspired to keep milk prices high despite a drop in the wholesale price. San Francisco-based Latham & Watkins partner Gregory Lindstrom and lawyers in the firm’s Chicago office represented Dominick’s. Chicago’s McDermott, Will & Emery represented the other defendant, Jewel. Attorneys at Chicago’s Connelly Roberts & McGivney and Rock, Fusco & Garvey represented the plaintiffs. Cook County Circuit Court Judge John Morrissey ruled that the markets “competed, not conspired,” and therefore did not violate any law. According to defense attorneys, the decisive factor of the case was decided by standards set under English common law circa 1848. “In many respects the case was determined when the plaintiffs lost their right to present it to a jury,” said Lindstrom. “The plaintiffs’ jury demand depended on the standards of English Common Law 150 years ago.” Illinois’ antitrust law does not specifically state a plaintiff has a right to a jury trial, said Lindstrom. “So the general procedure is to look to see if there was a right to a jury trial under English common law.” At that time the English system did not recognize price fixing, so a judge decided the plaintiffs did not have a right to a jury trial. “The sound and the fury of this lawsuit echoes well on their corporate ears. Let us hope that they heard,” the judge wrote. Attorneys representing the plaintiffs did not return messages seeking comment. Michael Connelly was the lead lawyer at the Connelly firm. Jill Berkeley worked on the case for the plaintiffs at Chicago’s Schiff Hardin & Waite. Attorneys at Chicago’s Lowrey & Smerz also worked on the case for the plaintiffs. In addition to Lindstrom at Latham, Chicago-based partner Timothy Hardwicke and associates Kevin May, Matthew Mock, Matt Lamkin and Paige Ormond worked on the case.

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