Xura, Inc. offers a portfolio of digital services solutions that enable global communications across a variety of mobile devices and platforms.

According to the Complaint, this action stems from a Proposed Transaction announced on May 23, 2016, pursuant to which Xura will be acquired by Sierra Private Holdings II Ltd. through its wholly-owned subsidiary, Sierra Private Merger Sub Inc., which are affiliates of Siris Capital Group, LLC.

The Complaint alleges Defendants issued materially incomplete and misleading disclosures in the Preliminary Proxy Statement (the “Proxy”) filed with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Proxy is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.

On January 29, 2018, this case was voluntarily dismissed. A related case continues under Docket 18-CV-01229 in the District of Delaware.

On August 1, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on January 30, 2020. Defendants filed Motions to Dismiss the amended Complaint on March 30. On March 25, 2021, the Court issued an Order granting Defendants' Motions to Dismiss. Plaintiffs were given leave to amend the Complaint.

On April 30, 2021, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on June 9. On March 30, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.