Staples, Inc. is an American office retail company. It is primarily involved in the sale of office supplies and related products.

According to the Complaint, on June 28, 2017, Staples’ Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Arch Parent Inc. and Arch Merger Sub Inc. (together with Sycamore Partners, “Sycamore”). Pursuant to the terms of the Merger Agreement, shareholders of Staples will receive $10.25 in cash for each share of Staples common stock they own.

On July 25, 2017, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on September 7, 2014.