On or around 07/26/2019 (Ongoing date of last review)
Filing Date: July 26, 2019
According to the Complaint, Shutterfly is a leading retailer and manufacturing platform for personalized products and communications. Founded in 1999, the Company has three divisions: Shutterfly Consumer, Lifetouch, and Shutterfly Business Solutions.
This action stems from a proposed transaction announced on June 10, 2019, pursuant to which Shutterfly, Inc. will be acquired by affiliates of Apollo Global Management, LLC.
On June 10, 2019, Shutterfly’s Board of Directors caused the Company to enter into an agreement and plan of merger with Apollo. Pursuant to the terms of the Merger Agreement, Shutterfly’s stockholders will receive $51.00 in cash for each share of Shutterfly common stock they own.
On July 19, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.
Company & Securities Information
Defendant: Shutterfly, Inc.
Industry: Personal Services
Headquarters: United States
Ticker Symbol: SFLY
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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