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Barracuda Shareholders Sue Over $1.6B Thoma Bravo Deal

Law360, New York (January 10, 2018, 10:05 PM EST) -- Shareholders of tech company Barracuda Networks on Tuesday asked a California federal judge to stop its $1.6 billion sale to private equity firm Thoma Bravo, arguing that the company has failed to release key financial information ahead of the deal.

Although Barracuda released a proxy statement encouraging shareholders to confirm the transaction, shareholder Stephen Bushansky told the court that the statement omits details on the company’s financial projections, the math underpinning financial adviser Morgan Stanley’s fairness opinion, the background process leading to the proposed sale and...
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Case Information

Case Title

Bushansky v. Barracuda Networks, Inc. et al


Case Number

3:18-cv-00191

Court

California Northern

Nature of Suit

850(Securities/Commodities)

Date Filed

January 9, 2018

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