PAREXEL International Corporation (PAREXEL) is an American provider of biopharmaceutical services. It conducts clinical trials on behalf of its pharmaceutical clients to expedite the drug approval process.

According to the Complaint, on June 19, 2017, PAREXEL’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, shareholders of PAREXEL will receive $88.10 per share in cash.

On July 14, 2017, Defendants filed a Preliminary Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

On September 20, 2017, Plaintiff voluntarily dismissed this action.