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MCFUF.US
id: 873

Micro Focus (MCFUF) And HPE Software Merger Settlement

S.D. New York
Court
1:18-cv-06763-ALC
Case number
01 Sept 2017
Class period Start
28 Aug 2019
Class period End
30 Jun 2023
Claim deadline
  • Micro Focus allegelly misled about its merger with HPE Software in 2017.
  • $MCFUF fell 47% and lost $4.43B of its market cap, damaging investors.
The complaint claims that Micro Focus made false statements about disruptions in customer of HPE accounts, employee attrition, worsening revenue trends, and sales execution issues in the North America region.

It also claims Micro Focus failed to integrate successfully with HPE Software, leading to an artificially inflated enterprise value.

These news caused $MCFUF fall by 47% and $4.43B loss of market cap on March 19, 2018, damaging shareholders.

Any Investor who purchased $MCFUF during the period may be eligible for a payout.
Case Status
Accepting Late Claims
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Filing date
28 March 2018
Plaintiffs
James Ragsdale
Attorneys
Robbins Geller Rudman & Dowd LLP
Defendants
Stephen Murdoch, Mike Phillips, Kevin Loosemore, Nils Brauckmann, Karen Slatford, Richard Atkins, Amanda Brown, Silke Scheiber, Darren Roos, Christopher Hsu, John Schultz, and Giselle Manon
Judge
Marie S. Weiner
Administrator
EPIQ
Settlement agreement date
2023-01-24
Court hearing date
25 July 2023
Exclusion deadline
30 June 2023
Objection deadline
30 June 2023
Hearing deadline
25 July 2023
Attorney fee
$35,833,333
Trades matching type
FIFO
+$107,500,000
Cash Settlement Amount

Micro Focus International plc

Micro Focus International plc operates in the enterprise software business in the United Kingdom, the United States, Germany, Canada, France, Japan, and internationally. It offers infrastructure so...

    Ticker
    MCFUF.US
    CIK
    1359711
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    The Lawn, Newbury, United Kingdom, RG14 1QN