According to the Complaint, Finisar Corporation designs and sells products that support optical communications, including optical cables, communication components, sensing components and optical transceivers. Cisco Systems, Google, and Huawei are the Company’s largest customers; other customers include Broadcom, Hewlett Packard Enterprise, and IBM.

The Proposed Transaction was first disclosed on November 9, 2018, when Finisar and II-VI Incorporated ("II-VI") announced that they had entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which II-VI will acquire all of the outstanding shares of common stock of Finisar for $15.60 in cash and 0.2218 shares of II-VI common stock (the “Merger Consideration”). The deal is valued at approximately $3.2 billion and is expected to close in the middle of 2019.

On December 28, 2018, Defendants filed the Proxy with the SEC. The Complaint alleges that significant and material facts were not provided to Plaintiff and the Class. Without such information, Finisar 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 March 12, 2019.