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MuleSoft, Inc. (NYSE: MULE) Investor Lawsuit Against Acquisition By Salesforce Filed

  • Investors who purchased shares of MuleSoft, Inc. (NYSE: MULE) may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
MuleSoft, Inc.
Security
NYSE: MULE

Case Name
MuleSoft Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the Northern District of California

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Class Period End
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Summary

June 25, 2018 - The case was voluntarily dismissed.
April 5, 2018 - An investor, who currently holds shares of MuleSoft, Inc. (NYSE: MULE), filed a lawsuit in effort to halt the proposed takeover of MuleSoft, Inc. by Salesforce.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: MULE stockholders by agreeing to sell MuleSoft, Inc. cheaply via an unfair process.

San Francisco, CA based MuleSoft, Inc. provides Anypoint Platform that allows customers to connect their applications, data, and devices in the United States, the United Kingdom, and internationally. Its platform also enables a self-serve infrastructure through discoverable building blocks or nodes that can be used and reused to compose applications. On March 20, 2018, Salesforce (NYSE: CRM) and MuleSoft (NYSE: MULE) announced that they have entered into an agreement under which Salesforce will acquire MuleSoft for an enterprise value of approximately $6.5 billion. Under the terms of the transaction, the MuleSoft acquisition consideration will be composed of $36.00 in cash and 0.0711 shares of Salesforce common stock per MuleSoft Class A and Class B common share, which represents a per share price for MuleSoft common shares of $44.89 based on the closing price of Salesforce common stock on March 19, 2018.

However, plaintiff claims that the proposed consideration NYSE: MULE shareholders will receive is grossly inadequate and undervalues MuleSoft, Inc .MuleSoft, Inc. reported that its annual Total Revenue rose from $187.74 million in 2016 to $296.45 million in 2017. In addition, the plaintiff alleges that the process is also unfair NYSE: MULE stockholders.