in Newswire Published on November 21, 2017

Stockholder Sues Gigamon Over ‘Misleading’ Proxy Statement

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.

Defendant(s)

Gigamon Inc.

Law(s)

The Securities Exchange Act of 1934

State(s)

California

Categories

Securities

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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