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Case Status:    ONGOING    
On or around 06/20/2019 (Ongoing date of last review)

Filing Date: June 20, 2019

According to the Complaint, Cray designs and builds supercomputers, software for supercomputers, and storage and data management products. Cray’s products are used at national laboratories like Argonne National Laboratory, universities like the University of Western Australia, and corporations like GE.

On May 17, 2019, Cray and Hewlett Packard Enterprise Company ("HPE") announced that they had entered into a definitive merger agreement pursuant to which HPE will acquire all of the outstanding shares of common stock of Cray for $35.00 per share. The deal is valued at approximately $1.3 billion and is expected to close by the first quarter of HPE’s fiscal year 2020.

On June 12, 2019, Defendants filed a preliminary proxy statement with the SEC. The Complaint alleges that the proxy statement was materially incomplete and misleading. Specifically, the Complaint alleges the Proxy contains materially incomplete and misleading information concerning the sales process, financial projections prepared by Cray management, and the financial analyses conducted by Cray’s financial advisor.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CRAY
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. Delaware
DOCKET #: 19-CV-01148
JUDGE: Hon. Leonard P. Stark
DATE FILED: 06/20/2019
CLASS PERIOD START: 05/17/2019
CLASS PERIOD END: 06/20/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Rowley Law PLLC
    50 Main Street, Suite 1000, Rowley Law PLLC, NY 10606
    914.400.1920 914.301.3514 ·
No Document Title Filing Date
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—Related District Court Filings Data is not available