ARIAD Pharmaceuticals, Inc. was an American oncology company engaged in the discovery, development, and commercialization of medicines for cancer patients.

According to the Complaint, on January 8, 2017, the Company entered into an agreement and plan of merger with Takeda pursuant to which Takeda will acquire all outstanding shares of the Company with the Company stockholders receiving $24.00 per share in cash (the “Proposed Transaction”).

On January 19, 2017, Defendants filed a Schedule 14D-9 (“Schedule”) with the United States Securities and Exchange Commission in which the Company recommended stockholders tender their shares in favor of the Proposed Transaction. The Complaint alleges the Schedule failed to provide the Company’s stockholders with material information and/or provided them with materially misleading information thereby rendering the stockholders unable to make an informed decision as to how to tender their shares.

This case was voluntarily dismissed as Moot on February 16, 2017.