According to the complaint, this is a direct shareholder class action complaint filed on behalf of the public shareholders of SRA International, Inc. arising out of the proposed merger of SRA with Providence Equity Partners LLC. Plaintiff sues SRA, Providence, and SRA's Board of Directors for breach of fiduciary duties owed to SRA's shareholders, for aiding and abetting such breaches, and for violations of the Securities Exchange Act of 1934. On March 31, 2011, the defendants named herein entered into a definitive merger agreement pursuant to which Providence will acquire all of the Company's outstanding Class A and Class B common stock for $31.25 per share in cash. The Merger Agreement is the product of a fundamentally flawed process that does not maximize shareholder value for SRA shareholders.
On May 24, 2011, the Court issued an Order granting a Motion to Stay. The action is stayed indefinitely in all respects.
Pursuant to a Stipulation by the parties, this case was dismissed with prejudice on June 4, 2014.