According to the Complaint, on August 8, 2017, Supreme and Wabash issued a joint press release announcing that they had entered into an Agreement and Plan of Merger (the “Merger Agreement”) to sell Supreme to Wabash.
On August 22, 2017, Supreme filed a Solicitation/Recommendation Statement on Schedule 14D-9 (the “Recommendation Statement”) with the SEC. The Complaint alleges the Recommendation Statement, which recommends that Supreme stockholders tender their shares in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) Supreme management’s projections, including the projections utilized by the Company’s financial advisor, Robert W. Baird & Co. Incorporated (“Baird”), in its financial analyses; (ii) the valuation analyses prepared by Baird in connection with the rendering of its fairness opinion; and (iii) the background process leading up to the Proposed Transaction .
This case was voluntarily dismissed as moot on October 13, 2017.