Cases
Brocade Communications Systems, Inc. (NASDAQ: BRCD)
Securities Class Action
Overview
Overview
- Date:
- 12/15/2016
- Company Name:
- Brocade Communications Systems, Inc.
- Stock Symbol:
- BRCD
- Class Period:
- FROM 12/12/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Northern California
NEW YORK, December 15, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Northern District Court on behalf of all persons or entities who held Brocade Communications Systems, Inc. (NASDAQ: BRCD) securities on December 12, 2016 (the “Class Period”).
On November 2, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Broadcom will acquire Brocade in a merger in a deal worth $5.5 billion. As a result of the merger, Brocade shareholders are only anticipated to receive $12.75 per share in cash for each share of Broacde common stock.
The complaint alleges that the company failed to conduct a fair sales process and failed to disclose all material information regarding the sale of the company.
If you held Brocade securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On November 2, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Broadcom will acquire Brocade in a merger in a deal worth $5.5 billion. As a result of the merger, Brocade shareholders are only anticipated to receive $12.75 per share in cash for each share of Broacde common stock.
The complaint alleges that the company failed to conduct a fair sales process and failed to disclose all material information regarding the sale of the company.
If you held Brocade securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.