Stockholder Sues Gigamon Over ‘Misleading’ Proxy Statement
by Erin Shaak
Last Updated on May 8, 2018
Carpenter v. Gigamon Inc. et al.
Filed: November 17, 2017 ◆§ 5:17-cv-06653
Gigamon Inc. and its board of directors are facing a proposed class action lawsuit in light of a potential merger between Gigamon and Elliott Management Corporation.
Gigamon Inc. and its board of directors are facing a proposed class action lawsuit in light of a potential merger between Gigamon and Elliott Management Corporation. The plaintiff in the case, a Gigamon stockholder, claims the defendants filed a misleading proxy statement in connection with the transaction that failed to disclose material information regarding the company’s financial projections and details of the valuation analyses performed by its financial advisor. He claims this information is material to stockholders, noting that the stock price proposed in the deal represents a 60 percent discount to Gigamon’s 52-week high of $61.25.
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