According to the Complaint, Citrix Systems, Inc. sells digital workspace solutions designed to provide an organization's employees with unified, reliable and secure access to all of their work resources (applications, content, etc.) across all of the organization's computing devices and locations.

This action stems from a proposed transaction announced on January 31, 2022, pursuant to which Citrix Systems, Inc. would be acquired by Vista Equity Partners and Elliott Investment Management L.P.

On March 16, 2022, 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 contained material misrepresentations and omissions with respect to the Proposed Transaction, rendering the Proxy Statement false and misleading, and that the false and misleading Proxy authorized by Defendants caused the consummation of the Merger at an unfair price per share that did not adequately value Citrix.

On March 8, 2023, the Court issued an Order appointing Co-Lead Plaintiffs and Co-Lead Counsel. Lead Plaintiffs filed an Amended Complaint on May 8. Defendants filed a Motion to Dismiss the Amended Complaint on July 12.

On February 3, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

The parties entered into a Stipulation and Agreement of Settlement on July 15, 2024. On July 22, the Court granted preliminary approval of the Settlement. On November 4, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On April 18, 2025, the Court issued an Order approving distribution of the Settlement funds.