Washington, DC 9/25/09—In a filing with the SEC, Varian and Agilent disclosed that they have entered into a memorandum of understanding for settlement of the class action lawsuits filed by Varian shareholders against the companies and company personnel (see IBO 9/15/09). The suits, which were subsequently consolidated, alleged that Varian’s directors breached their fiduciary duties to stockholders, among other charges. Agilent and Varian stated that “they continue to believe the claims to be without merit,” but the agreement, which admits no wrongdoing, would avoid the potential cost and distraction of litigation and eliminate any risk of delaying the merger.