Covisint Corporation ($COVS) $9M Investor Settlement

The settlement funds have been distributed to claimants.

$9,000,000

Cash Settlement

2017-159571-CB

Case number

06/05/2017

Class period Start

07/26/2017

Class period End

Covisint Corporation ($COVS) has agreed to settle $9,000,000 with investors to resolve claims that its board misled shareholders and acted in their own interests during the 2017 sale to OpenText.

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Plaintiffs

Leslie J. Murphy, Vincent J. Martin III

Attorneys

Robbins Geller Rudman & Dowd LLP

Defendants

Samuel M. Inman III, John F. Smith, Bernard M. Goldsmith, William O. Grabe, Lawrence David Hansen, Andreas Mai, Jonathan Yaron, Enrico Digirolamo

Administrator

A.B. Data Ltd

Trades matching type

FIFO

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