On or around 08/16/2019 (Notice of voluntarily dismissal)
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.
This case was voluntarily dismissed on August 16, 2019.
Company & Securities Information
Defendant: Cray Inc.
Industry: Computer Hardware
Headquarters: United States
Ticker Symbol: CRAY
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Russell Davie, et al. v. Cray Inc., et al.
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:
Rigrodsky & Long, P.A. (Wilmington)
Rowley Law PLLC
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available