NEW YORK, Jan. 30, 2018 /PRNewswire/ -- WeissLaw LLP
announced that a class action was commenced in the United States District Court for the
Northern District of California on
behalf of shareholders of Barracuda Networks, Inc. ("Barracuda")
(NYSE: CUDA) seeking to pursue remedies under the Securities
Exchange Act of 1934 (the "Exchange Act") in connection with the
proposed acquisition of Barracuda by private equity firm Thoma
Bravo, LLC ("Thoma Bravo").
On November 27, 2017, Barracuda
and Thoma Bravo announced that they
had entered into a definitive agreement pursuant to which
Thoma Bravo will acquire all
outstanding shares of Barracuda in a transaction valued at
approximately $1.6 billion ("Proposed
Transaction"). Under the terms of the agreement, Barracuda
shareholders will receive $27.55 in
cash for each share held.
The complaint seeks injunctive relief on behalf of the named
plaintiff and all Barracuda shareholders. The plaintiff is
represented by WeissLaw, which has expertise in prosecuting
investor class actions and extensive experience in actions
involving financial fraud. The complaint further alleges that in an
attempt to secure shareholder approval for the merger, the
defendants filed a materially false and/or misleading Proxy
Statement with the SEC in violation of the Exchange Act. The
omitted and/or misrepresented information is believed to be
material to Barracuda shareholders' ability to make an informed
decision whether to vote in favor of the Proposed Transaction.
On January 26, 2018, Barracuda
filed on Form DEFA14A with the Securities and Exchange Commission
an amendment to its January 9, 2018
definitive proxy statement that included supplemental disclosures
that addressed allegations set forth in the complaint.
If you wish to serve as lead plaintiff, you must move the
Court no later than sixty (60) days from today. If you wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact plaintiff's counsel,
Joshua M. Rubin of WeissLaw
at 888.593.4771, or by e-mail at
stockinfo@weisslawllp.com. Any member of the putative
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions; recovered over a billion dollars for defrauded
clients. If you have information or would like legal advice
concerning possible corporate wrongdoing please email us at
stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP