Case Page

 

Case Status:    DISMISSED    
On or around 09/12/2018 (Other)

Filing Date: July 27, 2018

According to the Complaint, Xplore Technologies Corp. ("Xplore" or the "Company") is engaged in the development, integration, and marketing of rugged mobile personal computer and hand held devices. Its rugged devices are designed to withstand hazardous conditions, such as extreme temperatures, driving rain, repeated vibrations, dirt, dust, and concussive shocks. The intrinsically safe, ruggedized, and reliable nature of Xplore products facilitates the extension of traditional computing systems to a broader range of field personnel, including energy pipeline inspectors, public safety responders, warehouse workers, and pharmaceutical scientists. The Company’s end-user customers include major telecommunications companies, leading heavy equipment manufacturers, vehicle manufacturers, healthcare providers, oil and gas production companies, the military, and first responders.

This action stems from a proposed transaction announced on July 5, 2018 (the “Proposed Transaction”), pursuant to which Xplore will be acquired by Zebra Technologies Corporation (“Parent”) and its wholly owned subsidiary, Wolfdancer Acquisition Corp. (“Merger Sub,” and together with Parent, “Zebra Technologies”).

On July 5, 2018, Xplore’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 Zebra Technologies. Pursuant to the terms of the Merger Agreement, Merger Sub commenced a tender offer (the “Tender Offer”) to acquire all of Xplore’s outstanding common stock for $6.00 in cash for each share of Xplore common stock. The Tender Offer is set to expire 12:00 a.m. midnight, New York City time, at the end of the day on August 13, 2018.

On July 17, 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.

On August 17, 2018, Plaintiff voluntarily dismissed this case as moot.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: XPLR
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Delaware
DOCKET #: 18-CV-01109
JUDGE: Hon. Sherry R. Fallon
DATE FILED: 07/27/2018
CLASS PERIOD START: 07/05/2018
CLASS PERIOD END: 07/27/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  2. RM Law, P.C.
    1055 Westlakes Drive, Suite 3112, RM Law, P.C., PA 19312
    (484) 324-6800 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available