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CARB.US
id: 1091

Carbonite (CARB) $27.5M Shareholder Settlement

The settlement funds have been distributed to claimants.
$27,500,000
Cash Settlement
D. Massachusetts
Court
1:19-cv-11662
Case number
10/18/2018
Class period Start
07/25/2019
Class period End
06/21/2024
Claim deadline
OpenText Corp will pay $27.5 million to settle claims that Carbonite deceived investors about a faulty data backup program before being acquired by OpenText in 2019.
Case Type
US Securities Class Action
Case Status
Disbursed
Alleged Offence
Misleading Statements, 
Financial Misrepresentation, 
Failure to Disclose, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
1.79
Filing date
08/01/2019
Lead Plaintiff Deadline
09/30/2019
Plaintiffs
Construction Industry and Laborers’ Joint Pension Trust
Attorneys
Hutchings Barsamian Mandelcorn, LLP (Wellesley Hills, MA), Robbins Geller Rudman & Dowd LLP (Melville, NY)
Defendants
Mohamad S. Ali, Anthony Folger
Judge
Hon. Leo T. Sorokin
Administrator
Gilardi & Co LLC
Settlement agreement date
2024-01-31
Trades matching type
FIFO
Disbursement date
05/22/2025

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