Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against The Ultimate Software Group, Inc. (ULTI)
Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, Case No. 1:19-cv-00505-CFC, on behalf of shareholders of The Ultimate Software Group, Inc. (“Ultimate Software” or the “Company”) (NasdaqGS:ULTI) who have been harmed by Ultimate Software’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 an investor group led by Hellman & Friedman (“H&F”).
On February 4, 2019, the Board caused the Company to enter into an Agreement and Plan of Merger (“Proposed Transaction”) under which Ultimate Software shareholders will have the right to receive $331.50 in cash for each share of Ultimate Software they own (the “Merger Consideration”).
The complaint alleges that the Preliminary Proxy Statement on Schedule 14A (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on March 11, 2019, 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 Ultimate Software shareholders.
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The Ultimate Software Group, Inc. (ULTI)
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Filed on 04/03/2019
Court District of Delaware
685 Third Avenue 26th Floor
10017 New York, New York
Phone (212) 983-9330
Fax (212) 983-9331
James M. Wilson, Jr. email@example.com Phone (212) 983-9330 Fax (212) 983-9331