Altair Engineering Inc. has reported that it filed a definitive proxy statement concerning a proposed merger with Siemens Industry Software Inc. and Astra Merger Sub Inc. The merger, scheduled for a Special Meeting on January 22, 2025, would result in Altair becoming a wholly owned subsidiary of Siemens Industry. Altair faces three lawsuits and multiple demand letters from stockholders regarding alleged misrepresentations and omissions in the proxy statement. To address the unmeritorious claims and avoid litigation costs, Altair voluntarily supplemented the proxy statement with additional disclosures. These supplemental disclosures provide further details on their previous communications, agreements, and financial analyses related to the merger. Altair has not conceded that these additional disclosures were legally necessary and denies all allegations raised in the lawsuits and demand letters.
Names for clarity: - Altair Engineering Inc. - Siemens Industry Software Inc. - Astra Merger Sub Inc. - Elstein vs. Altair Engineering Inc., et al. - Jones vs. Altair Engineering Inc., et al. - Kent vs. Altair Engineering Inc., et al.