Gigamon, Others Facing Stockholder’s Securities Suit

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Gigamon, Inc., its board of directors, Elliott Management Corporation, and two affiliates are facing a proposed class action that claims the parties issued a misleading proxy statement in connection with Elliott’s proposed acquisition of Gigamon. The plaintiff, a Gigamon stockholder, believes the board was pressured to sell the company for less than its worth despite “impressive growth and strong prospects for future growth.” He claims the proxy statement omitted material information concerning Gigamon’s financial projections, the valuation analyses performed by its financial advisor, and the background of the sales process. These alleged non-disclosures, he argues, are necessary for stockholders to determine for themselves whether the deal is fair.