Settlement of In re Micro Focus International plc Securities Litigation,
The parties have reached a settlement of this action, pending in the Superior Court of the State of California, County of San Mateo. The settlement provides for the payment of $107,500,000 for the benefit of eligible Settlement Class Members. Plaintiffs James Ragsdale, Cardella Family Irrevoc Trust U/A 06/17/15, Ian Green, James Gildea and Marilyn Clark alleged Defendants violated §§11, 12(a)(2) and 15 of the Securities Act of 1933 by selling, or offering to sell, Micro Focus International plc (“Micro Focus”) ADSs and ADRs pursuant to Registration Statements on Forms F-4 and F-6 and Prospectus (the “Offering Materials”), which were issued in connection with the merger of Micro Focus and the software business segment of Hewlett Packard Enterprise Company (“HPE”), and that Defendants were responsible for allegedly materially false or misleading statements and/or omissions of material information required to be disclosed in the Offering Materials.
The Settlement Class consists of all persons and entities who purchased or acquired ADSs or ADRs of Micro Focus International plc, or rights to receive such ADSs or ADRs: (i) during the period from September 1, 2017 through August 28, 2019, inclusive, or (ii) pursuant or traceable to the Registration Statements on Forms F-4 and F-6 and Prospectus issued in connection with the merger of Micro Focus and the software business unit of HPE (or their subsidiaries), and who were damaged thereby; excluding Defendants, officers and directors of Micro Focus, officers and directors of HPE, members of their immediate families, legal representatives, heirs, successor or assigns, and any entity in which they have or had a controlling interest.
The settlement was approved by the Court on July 27, 2023.
If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.