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CRAY MERGER CLASS ACTION: HALPER SADEH LLP ANNOUNCES SHAREHOLDER CLASS ACTION AGAINST CRAY INC. – CRAY
June 24, 2019.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, announces that a shareholder class action was filed against Cray Inc. (“Cray” or the “Company”) (NASDAQ: CRAY) in connection with the proposed sale of Cray to Hewlett Packard Enterprise.
The lawsuit alleges that Defendants issued a materially misleading proxy statement recommending that Cray shareholders vote in favor of the proposed transaction. According to the complaint, the proxy statement contains materially incomplete and/or misleading information concerning the sales process leading up to the proposed transaction, the financial projections prepared by Cray management, and the financial analyses conducted by Morgan Stanley & Co. LLC, Cray’s financial advisor. As result, Cray shareholders must be provided with this information in order to adequately assess and value the merger consideration. The lawsuit seeks to enjoin the shareholder vote on the proposed transaction until such information is disclosed.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE OR YOU MAY REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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