On or around 07/26/2017 (Notice of voluntarily dismissal)
Filing Date: June 13, 2017
According to the Complaint, on May 26, 2017, CardConnect’s Board of Directors (the “Board” or “Individual Defendants”) 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 (the “Solicitation Statement”) with the United States Securities and Exchange Commission (“SEC”) 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.
Company & Securities Information
Defendant: CardConnect Corp.
Industry: Business Services
Headquarters: United States
Ticker Symbol: CCN
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Louis Scarantino, et al. v. CardConnect Corp., et al.