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IN RE CYAN, INC. STOCKHOLDERS LITIGATION

Consolidated C.A. No. 11027-CB.

IN RE CYAN, INC. STOCKHOLDERS LITIGATION.

Court of Chancery of Delaware.

Decided: May 11, 2017.

Attorney(s) appearing for the Case

Michael Van Gorder , FARUQI & FARUQI, LLP, Wilmington, Delaware; Seth D. Rigrodsky , Brian D. Long , Gina M. Serra , and Jeremy J. Riley , RIGRODSKY & LONG, P.A., Wilmington, Delaware; Shane T. Rowley , LEVI & KORSINSKY LLP, New York, New York, Attorneys for Plaintiffs.

Bradley D. Sorrels , Ian R. Liston , Andrew D. Berni , and Jessica A. Montellese , WILSON SONSINI GOODRICH & ROSATI, PC, Wilmington, Delaware; Boris Feldman and Ignacio E. Salceda , WILSON SONSINI GOODRICH & ROSATI, PC, Palo Alto, California, Attorneys for Defendants Mark A. Floyd, Michael L. Hatfield, Promod Haque, Paul A. Ferris, Michael J. Boustridge, Niel Ransom, and Robert E. Switz.

MEMORANDUM OPINION

This action arises out of the merger of Cyan, Inc. and Ciena Corporation that closed in August 2015. In exchange for their Cyan shares, the former stockholders of Cyan received shares of Ciena common stock and cash that accounted for 89% and 11%, respectively, of an estimated $335 million in merger consideration...

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