Energy News / Shareholders Foundation, Inc.

NYSE:CUDA Shareholder Notice: Lawsuit Filed in Effort to Halt the Takeover of Barracuda Networks Inc

Via: ReleaseWire

Updated 12:00 PM CST, Mon, February 05,2018

A lawsuit was filed for investors in shares of Barracuda Networks Inc (NYSE:CUDA) in connection with the proposed takeover and NYSE:CUDA stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 02/05/2018 -- The Shareholders Foundation announces that an investor, who currently holds NYSE:CUDA shares filed a lawsuit against the acquisition of Barracuda Networks Inc by Thoma Bravo, LLCis unfair to NYSE:CUDA stockholders.

Investors who purchased shares of Barracuda Networks Inc (NYSE:CUDA) and currently hold any of those NYSE:CUDA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CUDA stockholders by agreeing to sell Barracuda Networks Inc cheaply via an unfair process to Thoma Bravo, LLC.

On November 27, 2017, Barracuda Networks, Inc. (NYSE: CUDA), a leading provider of cloud-enabled security and data protection solutions, today announced that it has entered into an agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC. in an all-cash transaction valued at $1.6 billion. Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold.

However, plaintiff claims that the proposed consideration NYSE:CUDA shareholders will receive is grossly inadequate and undervalues Barracuda Networks, Inc. Indeed, at least one analyst has set the high price target for NYSE:CUDA at $32.00 per share. Barracuda Networks Inc reported that its Total Revenue rose from $320.16 million for the 12 months period that ended on February 29, 2016 to $352.65 million fr the 12 months period that ended on February 28, 2017 and that its Net Loss of $4.42 million turned into a Net Income of $10.32 million over those respective time periods. Shares of Barracuda Networks Inc (NYSE:CUDA) reached in 2015 as high as $46.12 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:CUDA stockholders.

On February 1, 2018, NYSE:CUDA shares closed at $27.55 per share.

Those who are current investors in Barracuda Networks Inc (NYSE:CUDA) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysecuda-shareholder-notice-lawsuit-filed-in-effort-to-halt-the-takeover-of-barracuda-networks-inc-926632.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com