According to the Complaint, Loxo Oncology, Inc. (“Loxo” or the “Company”) is a biopharmaceutical company focused on the development and commercialization of highly selective medicines for patients with genomically defined cancers.

This action stems from a proposed transaction announced on January 7, 2019 (the “Proposed Transaction”), pursuant to which Loxo will be acquired by Eli Lilly and Company.

On January 5, 2019, Loxo’s Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Eli Lilly. On January 17, 2019, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission 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.

This case was voluntarily dismissed on February 12, 2019.