According to the Complaint, LSC Communications Inc. ("LSC") prints magazines, catalogs, retail inserts, books and directories, and sells office supplies such as filing products, envelopes, note-taking products, binders and forms. Printing is an $84 billion industry, and LSC was the third-largest printing company in 2017 with $3.6 billion in consolidated net sales in 2017.

The Proposed Transaction was first disclosed on October 31, 2018, when LSC and Quad/Graphics announced that they had entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which Quad/Graphics will acquire all of the outstanding shares of common stock of LSC in exchange for 0.625 shares of Quad/Graphics Class A common stock (the “Merger Consideration”). The deal is valued at approximately $1.4 billion and is expected to close in mid-2019.

On December 12, 2018, Defendants filed the S-4 with the SEC. The Complaint alleges that significant and material facts were not provided to Plaintiff and the Class. Without such information, LSC shareholders cannot make a fully informed decision concerning whether or not to vote in favor of the Proposed Transaction.

This case was voluntarily dismissed on August 14, 2019.