Recent Securities Litigations
ForeScout Technologies, Inc. (NASDAQ: FSCT)
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 February 6, 2020, pursuant to which Forescout Technologies, Inc. will be acquired by affiliates of Advent International Corporation.
On February 6, 2020, Forescout’s Board of Directors caused the Company to enter into an agreement and plan of merger with Ferrari Group Holdings, L.P. Pursuant to the terms of the Merger Agreement, Forescout’s stockholders will receive $33.00 in cash for each share of Forescout common stock they own.
On March 3, 2020, 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.