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CARB.US

Carbonite (CARB) $27.5M Shareholder Settlement

D. Massachusetts
Court
1:19-cv-11662
Case number
18 Oct 2018
Class period Start
25 Jul 2019
Class period End
OpenText Corp will pay $27.5 million to settle claims that Carbonite deceived investors about a faulty data backup program before being acquired by OpenText in 2019.

Executives had allegedly promoted a "super strong" backup program they knew was ineffective.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
1.79
Filing date
01 August 2019
Lead Plaintiff Deadline
30 September 2019
Plaintiffs
Construction Industry and Laborers’ Joint Pension Trust
Attorneys
Hutchings Barsamian Mandelcorn, LLP (Wellesley Hills, MA), Robbins Geller Rudman & Dowd LLP (Melville, NY)
Defendants
Mohamad S. Ali, Anthony Folger
Judge
Hon. Leo T. Sorokin
Administrator
Gilardi & Co LLC
Settlement agreement date
2024-01-31
Trades matching type
FIFO
+$27,500,000
Total Settlement Amount
Created by Stan Vick, Scout

Carbonite, Inc.

Carbonite, Inc., together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbo...

    Ticker
    CARB.US
    ISIN
    US1413371055
    CIK
    1340127
    Sector
    Other
    Industry
    Other
    Country
    USA
    Address
    Two Avenue de Lafayette 02111,Boston,USA