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SUMO.US
id: 789
Sumo Logic (SUMO) Misleading Sale to Francisco Partners
N.D. California
Court5:23-cv-3665
Case number09 Feb 2023
Class period Start25 Jul 2023
Class period End25 Sept 2023
Lead Plaintiff motion deadlineOn February 9, 2023, Sumo Logic announced that its board of directors approved the sale of the Company to Francisco Partners, pursuant to a merger agreement.
- On April 5, 2023, the Company issued a definitive proxy statement on Schedule 14A to be filed with the SEC.
- The special meeting of Sumo Logic stockholders to vote on the Merger was held on May 10, 2023.
- 84,039,824 of the 124,088,187 outstanding shares of Sumo Logic common stock voted to approve the Merger.
Investors may have reasons to suspect the Company and Accountables caused a materially false and misleading definitive proxy statement and investors were misled when they voted to approve the unfair Merger.
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management,
Investment Bank,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
25 July 2023
Filing date
25 July 2023
Lead Plaintiff Deadline
25 September 2023
Judge
Hon. Beth Labson Freeman