WeissLaw LLP announced that a class action was commenced in the United States District Court for the Northern District of California on behalf of shareholders of Barracuda Networks, Inc. (“Barracuda”) (NYSE: CUDA) seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with the proposed acquisition of Barracuda by private equity firm Thoma Bravo, LLC (“Thoma Bravo”).
On November 27, 2017, Barracuda and Thoma Bravo announced that they had entered into a definitive agreement pursuant to which Thoma Bravo will acquire all outstanding shares of Barracuda in a transaction valued at approximately $1.6 billion (“Proposed Transaction”). Under the terms of the agreement, Barracuda shareholders will receive $27.55 in cash for each share held.
The complaint seeks injunctive relief on behalf of the named plaintiff and all Barracuda shareholders. The plaintiff is represented by WeissLaw, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. The complaint further alleges that in an attempt to secure shareholder approval for the merger, the defendants filed a materially false and/or misleading Proxy Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Barracuda shareholders’ ability to make an informed decision whether to vote in favor of the Proposed Transaction.
On January 26, 2018, Barracuda filed on Form DEFA14A with the Securities and Exchange Commission an amendment to its January 9, 2018 definitive proxy statement that included supplemental disclosures that addressed allegations set forth in the complaint.
If you wish to serve as lead plaintiff, you must move the Court no later than sixty (60) days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Joshua M. Rubin of WeissLaw at 888.593.4771, or by e-mail at firstname.lastname@example.org. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions; recovered over a billion dollars for defrauded clients. If you have information or would like legal advice concerning possible corporate wrongdoing please email us at email@example.com.