Silver Bay Realty Trust Corp. ("Silver Bay") is a single-family rental real estate investment trust.

According to the Complaint, on February 27, 2017, Silver Bay and Tricon Capital Group, Inc. (“Tricon”) announced that they had entered into a definitive agreement under which Tricon will acquire all of the outstanding shares of Silver Bay in an all-cash transaction (the “Proposed Transaction”). If consummated, Silver Bay stockholders will receive $21.50 in cash for each share of Silver Bay common stock. The Proposed Transaction has an equity value of approximately $1.4 billion.

The Complaint alleges on March 28, 2017, Defendants issued materially incomplete and misleading disclosures in the Schedule 14A Definitive Proxy Statement filed with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Proxy Statement is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.

This case was voluntarily dismissed on May 9, 2017.