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Case Status:    ONGOING    
On or around 08/31/2016 (Ongoing date of last review)

Filing Date: August 30, 2016

According to the Complaint, this action stems from a proposed transaction announced on July 28, 2016 (the “Proposed Transaction”), pursuant to which NetSuite Inc. (“NetSuite” or the “Company”) will be acquired by Oracle Corporation (“Ultimate Parent”), OC Acquisition LLC (“Parent”), and its wholly-owned subsidiary, Napa Acquisition Corporation (“Merger Sub,” and together with Ultimate Parent and Parent, “Oracle”).

On July 28, 2016, NetSuite’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, Oracle commenced a tender offer, set to expire on September 15, 2016, and stockholders of NetSuite will receive $109.00 per share in cash.

The Complaint alleges on August 18, 2016, defendants issued materially incomplete disclosures in the Solicitation/Recommendation Statement (the “Solicitation Statement”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Solicitation Statement fails to disclose material information regarding the Proposed Transaction.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: N
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 16-CV-04975
JUDGE: Hon. Claudia Wilken
DATE FILED: 08/30/2016
CLASS PERIOD START: 07/28/2016
CLASS PERIOD END: 08/30/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (Los Angeles)
    445 South Figueroa Street, 31st Floor, Levi & Korsinsky (Los Angeles), CA 90071
    (213) 985-7290 (202) 333-2121 ·
  2. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  3. Ryan & Maniskas, LLP
    995 Old Eagle School Rd., Ste. 311, Ryan & Maniskas, LLP, PA 19087
    (484) 588-5516 (484) 450-2582 ·
No Document Title Filing Date