NEW YORK, Sept. 09, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sumo Logic, Inc. (“Sumo Logic” or the “Company”) (NASDAQ: SUMO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Sumo Logic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 9, 2023, Sumo Logic announced that its board of directors (“Board”) had approved the sale of the Company to Francisco Partners, pursuant to a merger agreement (“Merger Agreement”). On April 5, 2023, Sumo Logic and its officers caused a proxy statement on Schedule 14A (“Proxy”) to be filed with the SEC and disseminated to Sumo Logic stockholders. The special meeting of Sumo Logic stockholders to vote on the Merger was held on May 10, 2023. 84,039,824 of the 124,088,187 outstanding shares of Sumo Logic common stock voted to approve the Merger, which closed on May 12, 2023. A class action complaint has been filed alleging that the Proxy disseminated in connection with the Merger was materially false and misleading, in violation of the federal securities laws, and deceived Company shareholders into voting to approve the Merger at an unfair price.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
