According to the Complaint, Quantenna Communications, Inc. is the global leader and innovator of high performance Wi-Fi solutions.

This action stems from a proposed transaction announced on March 27, 2019, pursuant to which Quantenna will be acquired by ON Semiconductor Corporation. Pursuant to the terms of the Merger Agreement, Quantenna’s stockholders will receive $24.50 in cash for each share of Quantenna common stock they own.

On May 3, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on June 12, 2019.