According to the law firm press release, the action arises out of a May 4, 2016 press release announcing that United Online had entered into an Agreement and Plan of Merger pursuant to which B. Riley will acquire all of United Online’s common stock for $11 per share in cash, in a transaction valued at approximately $170 million (the “Proposed Acquisition”). The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated United Online 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 United Online shareholders’ ability to make an informed decision whether to approve the Proposed Acquisition.

This case was voluntarily dismissed on June 22, 2016.