Walleye Opportunities Master Fund Ltd. v. Silver Lake Group, L.L.C.

FOR PUBLICATION

UNITED STATES COURT OF APPEALS

FOR THE NINTH CIRCUIT

In re: SILVER LAKE GROUP, LLC No. 23-15822

SECURITIES LITIGATION,

______________________________ D.C. No. 4:20-cv- 02341-JSW

WALLEYE OPPORTUNITIES

MASTER FUND LTD.; WALLEYE

MANAGER OPPORTUNITIES LLC, OPINION

Lead Plaintiffs,

Plaintiffs-Appellants,

v.

SILVER LAKE GROUP, L.L.C.; SLP

III INVESTMENT HOLDINGS S.A

R.L.; SILVER LAKE PARTNERS III,

L.P.; SILVER LAKE TECHNOLOGY

INVESTORS III, L.P.; SILVER

LAKE TECHNOLOGY

ASSOCIATES III, L.P.; SLTA III

(GP), L.L.C.; BC PARTNERS LLP;

SERAFINA S.A.; BC EUROPEAN

CAPITAL VIII; BC EUROPEAN

CAPITAL-INTELSAT CO-

INVESTMENT; BC EUROPEAN

CAPITAL-INTELSAT CO-

INVESTMENT 1; CIE

MANAGEMENT II LIMITED; LMBO EUROPE SAS; RAYMOND

SVIDER; JUSTIN BATEMAN;

DAVID MCGLADE,

Defendants-Appellees.

Appeal from the United States District Court for the Northern District of California Jeffrey S. White, District Judge, Presiding

Argued and Submitted April 5, 2024 San Francisco, California

Filed July 24, 2024

Before: MILAN D. SMITH, JR., ANDREW D. HURWITZ, and ANTHONY D. JOHNSTONE, Circuit Judges.

Opinion by Judge Milan D. Smith, Jr.

WALLEYE…