Shutterfly, Inc.

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SHUTTERFLY MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF SHUTTERFLY, INC. IS FAIR TO SHAREHOLDERS – SFLY

June 10, 2019.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Shutterfly, Inc. (“Shutterfly” or the “Company”) (NASDAQ: SFLY) to affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (“Apollo”) is fair to Shutterfly shareholders. On behalf of Shutterfly shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

The Shutterfly merger investigation concerns whether Shutterfly and its Board of Directors violated the federal securities laws and/or their fiduciary duties to shareholders by failing to: (1) obtain the best possible price for Shutterfly shareholders; (2) determine whether Apollo is underpaying for Shutterfly; and (3) disclose all material information necessary for Shutterfly shareholders to adequately assess and value the merger consideration.

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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