Investor Cries Foul Over $810M Trustwave-Singtel Merger

Law360 (August 24, 2018, 4:39 PM EDT) -- An investor filed a proposed class action in Delaware Chancery Court claiming Trustwave Holdings Inc. improperly gave $15.6 million in stock preference in connection with its $810 million merger with Singapore Telecommunications Ltd. in 2015.

In a lawsuit made public Thursday, stockholder Comet Capital LLC said the cybersecurity technology company and eight of its board members breached their fiduciary duty and contractual obligations when the merger was approved, contending that preferred stockholders were given $15.6 million in liquidation benefit they should not have received.

"The liquidation preference was paid to the Series A preferred stockholders from the total merger consideration paid...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!