According to the Complaint, Key Technology Inc has over 3,100 customers in 81 countries and provides process automation systems for the food processing and other non-food processing industries. The Company develops and manufactures automated digital sorting systems and integrates them with its advanced material handling technologies to provide complete solutions for processors of food and other processed products.

On January 25, 2018, Key Technology’s Board of Directors caused the Company to enter into an agreement and plan of merger with Duravant LLC. On February 8, 2018, Defendants filed a Solicitation/Recommendation Statement (the “Solicitation Statement”) with the United States Securities and Exchange Commission in connection with the Proposed Transaction.

The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.

This case was voluntarily dismissed on March 20, 2018.