InvenSense Inc. is a provider of the MotionTracking sensor system on chip which functions as a gyroscope for consumer electronic devices such as smartphones, tablets, wearables, gaming devices, optical image stabilization, and remote controls for Smart TVs.

According to the Complaint, on December 21, 2016, the Board caused InvenSense to enter into an agreement and plan of merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, stockholders of InvenSense will receive $13.00 per share in cash.

On February 3, 2016, Defendants filed a Preliminary Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

Pursuant to a Stipulation by the parties, this case was ordered dismissed on May 26, 2017.