Polycom, Inc. provides telepresence, video and voice conferencing products such as headsets, desk phones, software, and analytics.

According to the law firm press release, the action arises out of an April 15, 2016 press release announcing that Polycom had entered into an Agreement and Plan of Merger with Mitel pursuant to which Mitel would acquire Polycom for $3.12 per share in cash and 1.31 Mitel common shares for each share of Polycom stock, for total consideration of $1.96 billion (the "Proposed Acquisition"). The Complaint seeks injunctive relief on behalf of the named Plaintiff and all other similarly situated Polycom shareholders (the "Class").

The Complaint alleges that, in an attempt to secure shareholder approval of the Proposed Acquisition, the Defendants filed a materially false and misleading Proxy Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Polycom shareholders' ability to make an informed decision whether to approve the Proposed Acquisition.

This case was voluntarily dismissed on July 20, 2016.