According to the law firm press release, on November 3, 2016, Lattice entered into an agreement and plan of merger (the “Merger Agreement”) with Canyon Bridge. Pursuant to the Merger Agreement, Lattice shareholders will receive $8.30 per share in cash (the “Proposed Transaction”).
The Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, on December 28, 2016, defendants issued materially incomplete disclosures in a Preliminary Proxy Statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission. The Complaint asserts that the Proxy Statement, which recommends that Lattice stockholders vote in favor of the Proposed Transaction, omitted material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to Lattice’s financial projections, the opinions and analyses of Lattice’s financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Lattice common stock.
This case was voluntarily dismissed on March 13, 2017.