According to the Complaint, VeriFone Systems, Inc. ("VeriFone" or the "Company") is a global leader in payments and commerce solutions at the point of sale. The Company connects payment devices to the cloud, merging the online and in-store shopping experience and creating the next generation of digital engagement between merchants and consumers. For over 35 years, VeriFone has supplied a broad range of innovative payment solutions and sells into more than 150 countries worldwide.

On April 9, 2018, VeriFone’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Vertex Holdco LLC (“Parent”) and Vertex Merger Sub LLC (“Merger Sub,” and together with Merger Sub, “Vertex”). Pursuant to the terms of the Merger Agreement, if the Proposed Transaction is approved by VeriFone’s shareholders and completed, VeriFone shareholders will receive $23.04 in cash for each share of VeriFone common stock they own.

On May 7, 2018, Defendants filed Proxy Statemen with the United States Securities and Exchange Commission 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 August 27, 2018.