Stockholder Sues Financial Engines Over Proxy Statement’s Allegedly Missing Financial Info

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Financial Engines, Inc. and its board of directors are facing a stockholder’s claims that the company filed a misleading proxy statement to gain shareholder support of a proposed merger. According to the complaint, the statement – which concerned a potential transaction between the corporate defendant and a subsidiary of Edelman Financial, L.P. – omitted material information regarding Financial Engines’ monetary projections and the valuation analyses prepared by the company’s financial advisor.

The plaintiff suspects that the proposed deal undercompensates investors and argues that the missing figures in the company’s financial projections and resulting analyses must be disclosed before stockholders are asked to vote on whether they support the merger.