According to the Complaint, Advanced Disposal Services, Inc. is a provider of non-hazardous solid waste collection, transfer, recycling and disposal services operating primarily in secondary markets or under exclusive arrangements. The Company operates in 16 states and the Commonwealth of the Bahamas.

On April 14, 2019, the Board caused the Company to enter into an agreement and plan of merger (“Merger Agreement”), pursuant to which the Company’s shareholders stand to receive $33.15 in cash for each share of Advanced Disposal stock they own. On April 15, 2019, Advanced Disposal and Waste Management, Inc. issued a joint press release announcing the Proposed Transaction.

The Complaint alleges that on May 10, 2019, in order to convince Advanced Disposal shareholders to vote in favor of the Proposed Transaction, the Board authorized the filing of a materially incomplete and misleading Form PREM14A Preliminary Proxy Statement with the Securities and Exchange Commission, in violation of Sections 14(a) and 20(a) of the Exchange Act.

This case was voluntarily dismissed on June 28, 2019.