KLX Inc, through its two operating segments, provides aerospace fasteners, consumables, and logistics services worldwide and oil field services and associated rental equipment across North America.

This action stems from a Proposed Transaction announced on May 1, 2018, pursuant to which KLX will be acquired by The Boeing Company (“Parent”) and its wholly-owned subsidiary, Kelly Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Boeing”).

On April 30, 2018, KLX’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 Boeing. Pursuant to the terms of the Merger Agreement, if the Proposed Transaction is approved by KLX’s shareholders and completed, KLX’s stockholders will receive $63.00 in cash for each share of the KLX common stock they hold.

On June 1, 2018, Defendants filed a preliminary Proxy Statement, and subsequently filed an amended Proxy Statement on June 26, 2018, 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 as moot on August 22, 2018.