According to the Complaint, it is alleged Defendants have violated Sections of the Exchange Act by causing a materially incomplete and misleading joint proxy statement/prospectus/information statement (the “Proxy”) to be filed with the SEC and disseminated to Jaguar shareholders. The Proxy recommends that Jaguar shareholders vote in favor of a Proposed Merger whereby Jaguar, in an all-stock transaction, will acquire Napo, with Jaguar continuing as the surviving entity (the “Proposed Merger”).

On December 11, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on January 10, 2018. Defendants filed a Motion to Dismiss the amended Complaint on March 12. On September 20, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff was given leave to amend the Complaint. On October 10, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on November 6. On June 28, 2019, the Court issued an Order denying Defendants' Motion to Dismiss.

On November 9, 2020, the parties notified the Court that they had reached a Settlement in principle. On December 29, the parties entered into a Stipulation of Settlement.