Micro Focus (MCFUF) And HPE Software Merger Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.

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