According to the Complaint, Bemis is a supplier of flexible and rigid plastic packaging used by leading food, consumer products, healthcare, and other companies worldwide.

On August 6, 2018, Bemis and Amcor Limited issued a joint press release announcing they had entered into a Transaction Agreement dated August 6, 2018 (the “Transaction Agreement”). Pursuant to the terms of the Transaction Agreement, each share of Bemis common stock will be converted into the right to receive 5.1 New Amcor shares.

On March 27, 2019, Bemis filed a Definitive Proxy Statement on Form DEFM 14A (“Proxy Statement”) with the SEC in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement, which recommends that Bemis stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) the financial analyses performed by the Company’s financial advisor; (ii) the background of the Proposed Transaction; and (iii) Bemis insiders’ and the financial advisor’s potential conflicts of interest.