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Silver Spring Networks, Inc. (SSNI)



Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against Silver Spring Networks, Inc.

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California, case No. 5:17-cv-06532, on behalf of shareholders of Silver Spring Networks, Inc. (“Silver Spring” or the “Company”) (NYSE:SSNI) who have been harmed by Silver Spring’s and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with  the proposed merger of the Company with Itron, Inc. (“Itron”).

On September 17, 2017, the Board caused the Company to enter into an Agreement and Plan of Merger (“Proposed Transaction”), under which the Company’s shareholders will receive $16.25 in cash for each share of Silver Spring stock they own (the “Merger Consideration”).  The shareholder vote on the Proposed Transaction is expected to occur on January 3, 2018.

The complaint alleges that the Proxy Statement on Schedule 14A (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”), violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to Silver Spring shareholders.

Contact Counsel

Nadeem Faruqi
James M. Wilson, Jr.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330


Case Details


  • 11/29/2017

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