April 20, 2021
The Ninth Circuit declined Tuesday to revive a securities class action accusing tech company Gigamon Inc. of misleading investors about a $1.6 billion acquisition offer, writing that the U.S. Supreme Court's decision in Omnicare leads to the conclusion that Gigamon did not materially misrepresent facts contained in statements of opinion.
March 13, 2019
A California federal judge said Tuesday that a Gigamon Inc. shareholder had not been able to show that the network security company used inaccurate financial forecasts to mislead investors into approving a $1.6 billion acquisition offer from hedge fund management firm Elliott Management Corp., dismissing his suit over the deal.
October 15, 2018
Gigamon Inc. has asked a California federal court to toss a shareholder suit accusing directors of using an inaccurate financial forecast in its proxy statement for a $1.6 billion acquisition offer from hedge fund management firm Elliott Management Corp., with Gigamon saying the forecast it used reflected declines in 2017 revenue growth.