CardConnect Corp. is an American company that provides payment processing and technology solutions.

According to the Complaint, on May 26, 2017, CardConnect’s Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, First Data commenced a tender offer, set to expire on July 5, 2017, and stockholders of CardConnect will receive $15.00 per share in cash.

On June 8, 2017, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.

This case was voluntarily dismissed on August 26, 2017.