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Cybersecurity Firm Investor Seeks Appraisal After Merger

Law360, Wilmington (August 17, 2017, 1:27 PM EDT) -- An investor in cybersecurity technology firm Trustwave Holdings Inc. filed a putative class action suit and appraisal petition in Delaware late Wednesday saying the company’s CEO pushed through an $810 million merger without providing details of the deal to shareholders.

In the suit, shareholder VM Funding LLC accused Trustwave CEO Robert McCullen of breaching his fiduciary duties by failing to provide any information about the negotiations that led to the 2015 merger with Singapore Telecommunications Ltd. that saw shareholders receive $15.69 per share.

VM Funding asserts...
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