According to the Complaint, RPX Corporation ("RPX") is the leading provider of patent risk and discovery management solutions.
This action stems from a proposed transaction announced on May 1, 2018 (the “Proposed Transaction”), pursuant to which RPX Corporation (“RPX” or the “Company”) will be acquired by affiliates of HGGC, LLC.
On April 30, 2018, RPX’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 Riptide Parent, LLC (“Parent”) and its wholly-owned subsidiary, Riptide Purchaser, Inc. (“Merger Sub)”.
On May 21, 2018, Defendants filed a Solicitation/Recommendation Statement (the “Solicitation Statement”) with the United States Securities and Exchange Commission (“SEC”) 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.