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SUMO.US
id: 789

Sumo Logic (SUMO) Misleading Sale to Francisco Partners

N.D. California
Court
4:23-cv-03665-BLF
Case number
09 Feb 2023
Class period Start
25 Jul 2023
Class period End
25 Sept 2023
Lead Plaintiff motion deadline
On 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
Lead Plaintiff Appointed
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
Collecting participants…

Sumo Logic Inc

Sumo Logic, Inc. provides cloud-native software-as-a-service platform that enables organizations to address the challenges and opportunities presented by digital transformation, modern applications...

    Ticker
    SUMO.US
    ISIN
    US86646P1030
    CIK
    1643269
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    305 Main Street, Redwood City, CA, United States, 94063