Veeco Instruments Inc. is the subject of an ongoing investigation by the law firm Wohl & Fruchter LLP regarding the fairness of its proposed merger with Axcelis Technologies. Under the terms of the all-stock transaction, Veeco stockholders are set to receive 0.3575 shares of Axcelis common stock for each share of Veeco common stock they own. This exchange ratio is fixed and will not be adjusted for fluctuations in the market prices of either company's shares between the signing of the merger agreement and the completion of the merger. Since the announcement of the proposed merger on October 1, 2025, the price of Axcelis common stock has declined, resulting in a drop in Veeco's stock price as well, which has affected the perceived value of the deal for Veeco shareholders.