Case Page

 

Case Status:    ONGOING    
On or around 04/06/2018 (Ongoing date of last review)

Filing Date: April 05, 2018

According to the Complaint, MuleSoft offers the Anypoint Platform, a tool that enables organizations to build and scale a network of applications, data, and devices. MuleSoft’s customers include a diverse range of companies, such as Coca-Cola, AstraZeneca, Accenture, Netflix, and others.

On March 20, 2018, the Company announced that it had entered into a definitive agreement (the “Merger Agreement”) by which Salesforce, through its wholly-owned subsidiary Merger Sub, would commence an exchange offer (the “Exchange Offer”) to acquire all of the outstanding shares of MuleSoft for $36.00 per share in cash and 0.0711 of a share of Salesforce common stock (the “Proposed Transaction”). The Proposed Transaction has an estimated enterprise value of $6.5 billion.

In connection with the commencement of the Exchange Offer on April 2, 2018, the Company filed a Recommendation Statement on Schedule 14D-9 (the “Recommendation Statement”) with the SEC. The Complaint alleges that the Recommendation Statement is materially deficient and misleading because, inter alia, it fails to disclose material information regarding the Company’s financial projections, the valuation analyses performed by the Company’s financial advisors in support of their fairness opinions, and the background of the Proposed Transaction.

These omissions materially mislead MuleSoft stockholders as to the intrinsic and market value of the Company, and MuleSoft stockholders cannot make an informed decision to exchange their shares in the Exchange Offer. The failure to adequately disclose such material information constitutes a violation of Sections 14(d)(4), 14(e), and 20(a) of the Exchange Act as stockholders need such information in order to make a fully-informed decision regarding tendering their shares in connection with the Proposed Transaction about whether to exchange their shares.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: MULE
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 #: 18-CV-02071
JUDGE:
DATE FILED: 04/05/2018
CLASS PERIOD START: 03/20/2018
CLASS PERIOD END: 04/05/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (San Francisco)
    44 Montgomery Street, Suite 650, Levi & Korsinsky (San Francisco), CA 94104
    (415) 291-2420 (415) 484-1294 ·
No Document Title Filing Date