Company: Red Hat, Inc.
Court: U.S.D.C. – District of Delaware
Kaskela Law LLC has filed a class action complaint against Red Hat, Inc. (“Red Hat” or the “Company”) (Nasdaq: RHT) concerning the Company’s proposed acquisition by IBM.
On October 28, 2018, Red Hat announced that it had agreed to be acquired by IBM. Subsequently, on November 30, 2018, Red Hat filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (“SEC”) to provide certain details and disclosures to its stockholders about the proposed transaction with IBM.
The stockholder complaint alleges that Red Hat and certain of the Company’s directors violated the federal securities laws by failing to disclose all material information to Red Hat stockholders in connection with the proposed transaction with IBM.