We are investigating SS&C Technologies Holdings, Inc. (SSNC) (“SS&C” or the “Company”) for potential violations of the federal securities laws.
On June 9, 2020, the investment management technology firm Arcesium LLC (“Arcesium”) sued SS&C in New York federal court, alleging breach of contract and violation of antitrust laws in connection with that SS&C and its subsidiary Advent Software Inc.’s (“Advent”) termination of an agreement with Arcesium to sell Advent’s Geneva accounting software. As reported by Law360, Arcesium’s suit claims that “Advent attempted to ‘to prevent and destroy competition in this industry’ . . . with Advent’s CEO purportedly stating publicly that the company’s goal was to ‘take over the world’ and be ‘the world's dominant platform.’” On this news, SS&C’s stock price fell sharply over the following trading sessions, damaging investors.