The High Court on Friday scrapped an investigation into semi-conductor equipment maker ASMI, saying the company court was wrong in its decision to order the inquiry.

Activist shareholders had taken ASMI to court arguing management was wrong to turn down a partial buyout offer from Applied Materials and that its CEO was not the right person to turn the company around.
The investigation was ordered nearly a year ago but was appealed by company founder and major shareholder Arthur del Prado.
ASMI has been embroiled in a heated discussion about separating into two parts since 2006.
In May, shareholders agreed to delay any discussion about dividing the company up until 2012.