According to the Complaint, Radisys Corporation ("Radisys" or the "Company") develops open telecom solutions to allow service providers with disaggregated and virtualized enabling technology solutions for the telecom industry. Radisys has two business segments, Software-Systems and Hardware Solutions. Software-Systems products and services include offerings in the MediaEngine, MobilityEngine, and FlowEngine product lines, driving down the costs of network infrastructure while enabling service providers to adopt new technologies. Hardware Solutions combines the Company’s hardware design expertise with its manufacturing, supply chain, integration and service
On July 2, 2018, Radisys and Reliance Industries Limited ("RIL") announced the Proposed Transaction, pursuant to which RIL will acquire all outstanding stock of Radisys. The Complaint alleges that Defendants have violated Sections 14(a) and 20(a) of the Exchange Act by causing a materially incomplete and misleading Schedule 14A Definitive Proxy Statement to be filed with the SEC on August 10, 2018 (the “Proxy”).
This case was voluntarily dismissed on August 28, 2018.