April 2, 2018 - The case was voluntarily dismissed.
January 9, 2018 - An investor, who currently holds shares of Barracuda Networks Inc (NYSE:CUDA), filed a lawsuit in effort to halt the proposed takeover of Barracuda Networks Inc by Thoma Bravo, LLCis unfair to NYSE:CUDA stockholders.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CUDA stockholders by agreeing to sell Barracuda Networks Inc cheaply via an unfair process to Thoma Bravo, LLC.

On November 27, 2017, Barracuda Networks, Inc. (NYSE: CUDA), a leading provider of cloud-enabled security and data protection solutions, today announced that it has entered into an agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC. in an all-cash transaction valued at $1.6 billion. Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold.

However, plaintiff claims that the proposed consideration NYSE:CUDA shareholders will receive is grossly inadequate and undervalues Barracuda Networks, Inc. Indeed, at least one analyst has set the high price target for NYSE:CUDA at $32.00 per share. Barracuda Networks Inc reported that its Total Revenue rose from $320.16 million for the 12 months period that ended on February 29, 2016 to $352.65 million fr the 12 months period that ended on February 28, 2017 and that its Net Loss of $4.42 million turned into a Net Income of $10.32 million over those respective time periods. Shares of Barracuda Networks Inc (NYSE:CUDA) reached in 2015 as high as $46.12 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:CUDA stockholders.