A10 NETWORKS, INC. (NYSE:ATEN) Files An 8-K Other Events
Item 8.01. Other Events.
Networks, Inc. (the Company) were named as defendants in a
putative derivative lawsuit filed in the Superior Court of the
State of California, County of Santa Clara (the Court), captioned
Hornung v. Chen, et al., 1-15-CV-282286 (the Derivative Action).
The Company was also named as a nominal defendant. The complaint
alleged breaches of fiduciary duties and other related claims,
arising out of allegations that the Companys officers and
directors caused the Company to infringe patents and intellectual
property, improperly approved the settlement of prior litigation,
failed to adopt and implement effective internal controls, and
caused the Company to issue false and misleading statements in
connection with the Companys initial public offering. The
plaintiffs sought unspecified compensatory damages and other
understanding reflecting an agreement in principle to settle all
claims against all defendants asserted in the action, which
provided that the Company implement certain corporate governance
measures following final settlement approval. The parties
subsequently executed a stipulation of agreement and settlement
memorializing that agreement, dated August 26, 2016 (the
Stipulation of Settlement), which releases all claims asserted
against all defendants and includes the dismissal of all claims
against all defendants without any liability or wrongdoing
attributed to them
approving the Stipulation of Settlement and providing for notice
(the Preliminary Approval Order). The Preliminary Approval Order
provides that the Court will hold a hearing for final approval of
the Stipulation of Settlement on January 27, 2017 at 9:00 a.m.,
before the Hon. Peter Kirwan, Superior Court Judge for the
Superior Court of California, County of Santa Clara, located in
Dept. 1 at 191 N. First Street, San Jose, California 95113. to
the Preliminary Approval Order and paragraph 3.2 of the
Settlement Agreement, the Notice of Pendency and Proposed
Settlement of Shareholder Derivative Action (the Notice) and
Stipulation of Settlement are attached hereto as Exhibit 99.1 and
Exhibit 99.2, respectively. In addition, the Company will publish
the Notice and the Stipulation of Settlement on the Investor
Relations page of the Companys website, www.a10networks.com.
Notice of Proposed Settlement of Derivative Action.
Stipulation of Agreement and Settlement.
About A10 NETWORKS, INC. (NYSE:ATEN)
A10 Networks, Inc. is a provider of application networking and network security technologies. The Company’s solutions enable enterprises, service providers, Web companies and government organizations to secure and optimize the performance of their data center applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale. The Company’s products are built on its Advanced Core Operating System (ACOS). The Company offers approximately four software-based solutions that are built on top of its software-based ACOS cloud-ready application networking platform and are delivered primarily on its optimized hardware appliances, including Application Delivery Controller (ADC), Carrier Grade Networking (CGN), Threat Protection System (TPS) and Convergent Firewall (CFW). Its support services include installation, phone support, repair and replacement, software updates, online tools, consulting and training services. A10 NETWORKS, INC. (NYSE:ATEN) Recent Trading Information
A10 NETWORKS, INC. (NYSE:ATEN) closed its last trading session down -0.01 at 7.92 with 366,720 shares trading hands.