Merged Exabeam and LogRhythm cut jobs, face lawsuit
ID: 2236a71f-275c-53ae-b775-29397b4613da
STIX ID: report--2236a71f-275c-53ae-b775-29397b4613da
Feed Name: The Register (Security)
Exabeam and LogRhythm finalized their merger, keeping the Exabeam name with Chris O’Malley as CEO while former CEO Adam Gellar departs, and reportedly implementing about a 30% workforce reduction following prior cuts. Exabeam common shareholders’ stock was canceled for no consideration, sparking legal actions including a now-dismissed investor suit and an investigation by Kahn Swick & Foti into the fairness of the transaction.
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