Recent Securities Litigations
The Meet Group, Inc. (NASDAQ: MEET)
According to the Complaint, The Meet Group, Inc. is a leading provider of interactive livestreaming solutions.
On March 5, 2020, Meet Group’s Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with NuCom, eHarmony Holding, Inc., and Holly Merger Sub, Inc. Pursuant to the terms of the Merger Agreement, Meet Group’s stockholders will receive $6.30 in cash for each share of Meet Group common stock they own.
On April 2, 2020, Defendants filed a proxy statement (the “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. Specifically, the Complaint alleges that the Proxy Statement fails to disclose: (i) all line items used to calculate (a) Adjusted EBITDA and (b) Adjusted EBIT; and (ii) a reconciliation of all non-GAAP to GAAP metrics.