Sumo Logic (SUMO) Misleading Sale to Francisco Partners

The plaintiff has voluntarily dismissed the case, ending the lawsuit.

N.D. California

Court

5:23-cv-3665

Case number

02/09/2023

Class period Start

07/25/2023

Class period End

09/25/2023

Lead Plaintiff motion deadline

On February 9, 2023, Sumo Logic announced that its board of directors approved the sale of the Company to Francisco Partners, pursuant to a merger agreement.
On April 5, 2023, the Company issued a definitive proxy statement on Schedule 14A to be filed with the SEC. 
The special meeting of Sumo Logic stockholders to vote on the Merger was held on May 10, 2023. 
84,039,824 of the 124,088,187 outstanding shares of Sumo Logic common stock voted to approve the Merger.
Investors may have reasons to suspect the Company and Accountables caused a materially false and misleading definitive proxy statement and investors were misled when they voted to approve the unfair Merger.

Case Type

US Securities Class Action

Case Status

Voluntary Dismissed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management,

Investment Bank,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

07/25/2023

Filing date

07/25/2023

Lead Plaintiff Deadline

09/25/2023

Judge

Hon. Beth Labson Freeman

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