Case Page

 

Case Status:    ONGOING    
On or around 11/17/2017 (Ongoing date of last review)

Filing Date: November 16, 2017

According to the Complaint, this is a class action brought by Plaintiff on behalf of himself and the other ordinary shareholders of BroadSoft, Inc. (“BroadSoft” or the “Company”), except Defendants (defined below) and their affiliates, against BroadSoft and the members BroadSoft’s board of directors (the “Board” or the “Individual Defendants”) for their violations of Section 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15.U.S.C. §§ 78n(a), 78t(a), and SEC Rule 14a-9, 17 C.F.R. 240.14a-9, in connection with the proposed merger (the “Proposed Merger”) between BroadSoft and Cisco Systems, Inc., through its subsidiary Brooklyn Acquisition Corp., (collectively “Cisco”).

On October 20, 2017, the Board caused the Company to enter into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with Cisco, pursuant to which, BroadSoft shareholders will be entitled to receive $55.00 for each share of common stock they own (the “Merger Consideration").

The Complaint alleges that on November 13, 2017, the Board authorized the filing of a materially incomplete and misleading proxy statement on Schedule 14A (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: BSFT
Company Market: NASDAQ
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: D. Maryland
DOCKET #: 17-CV-03415
JUDGE: Hon. Theodore D. Chuang
DATE FILED: 11/16/2017
CLASS PERIOD START: 10/23/2017
CLASS PERIOD END: 11/16/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (DC)
    1101 30th Street, NW; Suite 115, Levi & Korsinsky LLP (DC), DC 20007
    ·
  2. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
No Document Title Filing Date