Clarus files lawsuit against Caption Management, Caption Partners II

Clarus Corporation has filed a lawsuit in the U.S. District Court for the Southern District of New York against Caption Management LLC, Caption Partners II LP, Caption GP, LLC, William Cooper and Jason Strasser to seek to disgorge profits from transactions in Clarus common stock in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended. Section 16(b) requires beneficial owners of more than 10% of an issuer’s securities, among others, to return to the issuer any profits resulting from matching the highest sales price against the lowest purchase price during any six-month period, subject to certain exceptions.