Recent Securities Litigations
Majesco (AMEX: MJCO)
According to the Complaint, Majesco is a global leader of cloud insurance software solutions for insurance business transformation.
This action stems from a proposed transaction announced on August 8, 2020, pursuant to which Majesco will be acquired by affiliates of Thoma Bravo, L.P.
On August 8, 2020, Majesco’s Board of Directors caused the Company to enter into an agreement and plan of merger with Magic Intermediate, LLC (“Parent”) and Magic Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Magic”). Pursuant to the terms of the Merger Agreement, Majesco’s stockholders will receive $16.00 in cash for each share of Majesco common stock they own.
On August 14, 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.