If You Held Sybase, Inc. Common Stock Between May 12, 2010 and July 29, 2010, Your Rights May Be Affected By A Class Action Lawsuit Settlement.
A class action settlement has been reached in a class action lawsuit against Sybase, Inc. (“Sybase”), SAP AG (“SAP”), SAP America (“SAP America”) and others(collectively, “Defendants”) in the Superior Court of the State of California, County of Alameda (styled Casey v. Sybase, Inc., et al., Civil Class Action Case No. RG10515026) alleging, among other things, that on May 12, 2010, Sybase announced that it had entered into a merger agreement with SAP America, Inc. in which SAP America would pay Sybase’s stockholders $65.00 in cash for each share of Sybase common stock that they held and that merger was agreed via an allegedly unfair process and at an unfair price, and that there were alleged deficiencies in the public disclosures made to stockholders, according to the Sybase & SAP America Merger class action lawsuit settlement notice.
Sybase & SAP America class action settlement class members reportedly include, unless otherwise excluded, all Sybase common stockholders who held their shares at any time from May 12, 2010 through July 29, 2010..
As a result of the Sybase & SAP America Merger class action settlement, Sybase and SAP America disclosed additional information concerning the merger before their respective stockholders voted on it. Sybase also reportedly filed Amendments No. 3 and No. 4 to its Schedule 14D-9 with the SEC on or about July 19, 2010, and SAP reportedly made additional disclosures in an Amendment to its Schedule TO filed with the SEC on or about July 19, 2010.
The court will reportedly hold a final settlement hearing to decide whether to approve the Sybase & SAP America settlement, including an award of attorneys’ fees and expenses. The hearing will be held beginning at 9:00 a.m., on September 9, 2011, at the Alameda County Superior Court, 1221 Oak Street, Oakland, CA 94612, before the Honorable Steven A. Brick.
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