Silver Spring Networks Facing Proposed Securities Lawsuit

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Silver Spring Networks, Inc. and its board of directors are facing a proposed class action lawsuit following the announcement of a potential merger between the company and Itron, Inc. The suit, filed by a Silver Spring stockholder, claims the defendants issued a misleading proxy statement in connection with the proposed transaction that failed to fully disclose the details of Silver Spring’s financial projections and the valuation analyses performed by its financial advisor. The plaintiff argues that the deal will deny investors “their right to fully share equitably in the true value of the Company.”