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Case Status:    DISMISSED    
On or around 01/08/2019 (Notice of voluntarily dismissal)

Filing Date: December 18, 2018

According to the Complaint, Red Hat is a global provider of open source software solutions to meet the information technology (“IT”) needs of enterprises and service providers.

On October 28, 2018, Red Hat and IBM issued a joint press release announcing they had entered into an Agreement and Plan of Merger dated October 28, 2018 (the “Merger Agreement”) to sell Red Hat to IBM. Under the terms of the Merger Agreement, each Red Hat stockholder will receive $190.00 in cash for each share of Red Hat common stock they own (the “Merger Consideration”). The Proposed Transaction is valued at approximately $34.0 billion.

On December 12, 2018, Red Hat filed a Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC. The Complaint alleges that the Proxy Statement, which recommends that Red Hat stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) the data and inputs underlying the financial valuation analyses that support the fairness opinions provided by the Company’s financial advisors; (ii) the background process leading to the Proposed Transaction; and (iii) financial advisors' potential conflicts of interest.

This case was voluntarily dismissed on January 8, 2019.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: RHT
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: D. Delaware
DOCKET #: 18-CV-02006
JUDGE: Hon. Richard G. Andrews
DATE FILED: 12/18/2018
CLASS PERIOD START: 10/28/2018
CLASS PERIOD END: 12/18/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. O'Kelly Ernst & Joyce, LLC
    901 N. Market Street, Suite 1000, O'Kelly Ernst & Joyce, LLC, DE
    ·
  2. WeissLaw LLP
    551 Fifth Avenue, Suite 1600, WeissLaw LLP, NY 10176
    212.682.3025 212.682-3010 · info@wllawny.com
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available