Callidus, which does business as “CallidusCloud,” is the global leader in cloud-based sales, marketing, learning, and customer experience solutions. The Company enables organizations to accelerate and maximize their multi-product strategy with a complete “Lead to Money” suite of solutions that identify the right leads, ensure proper territory and quota distribution, enable sales forces, automate configure price quote, speed up contract negotiations, properly recognize revenue under ASC 606, and streamline sales compensation. Over 6,400 leading organizations, across all industries, rely on Callidus to optimize their multi-product strategy to close more deals faster and for more money.
This action stems from a proposed transaction announced on January 29, 2018 (the “Proposed Transaction”), pursuant to which Callidus Software Inc. (“Callidus” or the “Company”) will be acquired by SAP America, Inc. (“Parent”) and Emerson One Acquisition Corp. (“Merger Sub,” and together with Parent, “SAP”). On February 22, 2018, defendants filed a Definitive Proxy Statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) 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.
This case was voluntarily dismissed on May 31, 2018.