Comtech Telecommunications Corp. Securities Litigation

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Lawsuit Overview

Defendant:Comtech Telecommunications Corp.
Date Filed:May 6th, 2020
Industry:Radio And Television Broadcasting And Communications Equipment
Class Start Date:January 29th, 2020
Class End Date:May 6th, 2020

According to the Complaint, Comtech Telecommunications Corp. provides communications solutions for both commercial and government customers worldwide.

On January 29, 2020, Comtech and Gilat Satellite Networks Ltd. entered into an Agreement and Plan of Merger, pursuant to which Gilat's shareholders will receive a combination of? (i) $7.18 in cash and (ii) 0.08425 shares of Comtech common stock in exchange for each share of Gilat common stock they own. Comtech and Gilat have told shareholders that the implied value of the Merger Consideration is $10.25 per Gilat common share.

On April 3, 2020, Defendants authorized the filing of a proxy statement/prospectus (the "Proxy") with the Securities and Exchange Commission. The Complaint alleges that the Proxy is materially incomplete and misleading, particularly about Comtech's material financial projections.

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First Identified Complaint

Frank L. Romero, et al. v. Comtech Telecommunications Corp., et al.

Date Filed:May 6th, 2020
Class Period Start:January 29th, 2020
Class Period End:May 6th, 2020
First Identified Complaint Filings
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