$3.7 Billion Merger

Directors are selling Ellie Mae Inc. too cheaply through an unfair process to an affiliate of Thoma Bravo, for $99 a share or $3.7 billion, shareholders of the cloud-based mortgage finance company say in a federal class action.

SAN FRANCISCO — Directors are selling Ellie Mae Inc. too cheaply through an unfair process to an affiliate of Thoma Bravo, for $99 a share or $3.7 billion, shareholders of the cloud-based mortgage finance company say in a federal class action.