Lawsuit: YuMe Deprived Stockholders of Necessary Info Concerning Merger Proposal

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YuMe, Inc. and its board of directors have filed a solicitation statement regarding a potential merger with RhythmOne PLC that a proposed class action claims was misleading to stockholders. The statement allegedly omitted information concerning RhythmOne’s financial projections and any details indicating the possibility of conflicts of interest among YuMe’s board members “that may have tainted the sales process.” Specifically, the complaint mentions the statement’s apparent lack of information concerning communications about board members’ future employment with the new company, claiming these details are integral to stockholders’ decisions about whether to support the transaction.