Forescout Technologies, Inc. Securities Litigation
On or around 08/03/2020 (Date of last review)
Filing Date: July 31, 2020
According to the Complaint, Forescout Technologies, Inc. delivers device visibility and control to enable enterprises and government agencies to gain complete situational awareness of their environment and orchestrate action.
This action stems from a proposed transaction announced on July 15, 2020, pursuant to which Forescout Technologies, Inc. will be acquired by affiliates of Advent International Corporation.
On July 15, 2020, Forescout’s Board of Directors caused the Company to enter into an amended and restated agreement and plan of merger with Ferrari Group Holdings, L.P. (“Parent”) and Ferrari Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Ferrari”). Pursuant to the terms of the Merger Agreement, Merger Sub commenced a tender offer to purchase all of Forescout’s outstanding common stock for $29.00 per share in cash. The Tender Offer is set to expire on August 14, 2020.
On July 20, 2020, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.
Company & Securities Information
Defendant: Forescout Technologies, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: FSCT
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.
First Identified Complaint
Edward Smith, et al. v. Forescout Technologies, Inc., et al.
COURT: S.D. New York
DOCKET #: 20-CV-06006
JUDGE: Hon. Jed S. Rakoff
DATE FILED: 07/31/2020
CLASS PERIOD START: 07/15/2020
CLASS PERIOD END: 07/31/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rigrodsky & Long, P.A. (Wilmington)
RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
Complaint for Violation 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