Skip to main content

Market Overview

Monteverde & Associates PC Files Class Action Lawsuit On Behalf Of Shareholders Of Financial Engines, Inc In The Northern District Of California

Share:

Monteverde & Associates PC Files Class Action Lawsuit On Behalf Of Shareholders Of Financial Engines, Inc In The Northern District Of California

PR Newswire

NEW YORK, June 18, 2018 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for The Northern District of California, 5:18-cv-03542-EMC, on behalf of public common unitholders of Financial Engines, Inc, ("Financial Engines " or the "Company") (NASDAQ:FNGN) who held Financial Engines securities and have been harmed by Financial Engines and its board of directors' (the "Board") for alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Edelman Financial, L.P.

Monteverde & Associates PC Logo

Pursuant to the terms of the Merger Agreement, each outstanding share of Financial Engines common stock will be converted into the right to receive $45.00 per share in cash, without interest and subject to required withholding taxes. The board have failed to disclose material information that is necessary for stockholders to properly assess the fairness of the Proposed Merger, thereby rendering certain statements in the Proxy incomplete and misleading. In particular, the Proxy contains materially incomplete and misleading information concerning: (i) financial projections for Financial Engines; (ii) the valuation analyses performed by Financial Engines' financial advisor, Sandler O'Neill & Partners, L.P. ("Sandler") in support of its fairness opinion; and (iii) the background process leading up to the Proposed Transaction.

The complaint alleges that this offer is inadequate and alleges that the Registration Statement in Form 14A (the "Proxy") provides materially incomplete and misleading information about the Company's financials and the transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:

Click here for more information: https://monteverdelaw.com/case/financial-engines-inc.  It is free and there is no cost or obligation to you.

Monteverde & Associates PC is a national class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing.  Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field.  He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2018 Monteverde & Associates PC.  Prior results do not guarantee a similar outcome with respect to any future matter. 

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/monteverde--associates-pc-files-class-action-lawsuit-on-behalf-of-shareholders-of-financial-engines-inc-in-the-northern-district-of-california-300667997.html

SOURCE Monteverde & Associates PC

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com