Sevcon, Inc. is a global supplier of control and power solutions for zero-emission, electric and hybrid vehicles.

According to the Complaint, on July 14, 2017, Sevcon’s Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with BorgWarner. Pursuant to the terms of the Merger Agreement, shareholders of Sevcon will receive $22.00 in cash for each share of Sevcon common stock they own.

On August 8, 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.

On January 11, 2018, Plaintiff voluntarily dismissed this case.