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Case Status:    DISMISSED    
On or around 06/24/2020 (Other)

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.

On November 5, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on December 23. Defendants filed a Motion to Dismiss the amended Complaint on February 10, 2020. On March 17, the Court issued an Order withdrawing the original Lead Plaintiff and substituting a new Lead Plaintiff in his place. On May 20, the Court granted Defendants' Motion to Dismiss. On June 18, Lead Plaintiff filed a notice appealing the Court's Dismissal Order.

COMPANY INFORMATION:

Sector: Services
Industry: Personal Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SFLY
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-01387
JUDGE: Hon. Leonard P. Stark
DATE FILED: 07/26/2019
CLASS PERIOD START: 06/10/2019
CLASS PERIOD END: 07/26/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
COURT: D. Delaware
DOCKET #: 19-CV-01387
JUDGE: Hon. Leonard P. Stark
DATE FILED: 12/23/2019
CLASS PERIOD START: 06/10/2019
CLASS PERIOD END: 07/26/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cooch and Taylor, P.A. (Wilmington)
  2. Monteverde & Associates PC (Empire St. Bldg)
No Document Title Filing Date
—Related District Court Filings Data is not available