On or around 07/01/2019 (Notice of voluntarily dismissal)
Filing Date: June 12, 2019
According to the Complaint, Accelerize currently owns and operates CAKE and getcake.com, a marketing technology business that provides a proprietary solution for advanced analytics, attribution, and campaign optimization for digital marketers, as well as Journey by CAKE, a cloud-based solution that collects and analyzes customer journey data using multi-touch attribution for marketing campaign optimization for brand advertisers and digital agencies.
On May 15, 2019, the Board of Directors of Accelerize caused the Company to enter into an asset purchase agreement with CAKE Software, Inc., a subsidiary of Constellation Software Inc., pursuant to which the Company will sell substantially all of its assets associated with its CAKE and Journey by CAKE businesses.
On June 3, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission, which recommends that the Company’s stockholders approve the Proposed Transaction via written consent.
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 July 1, 2019.
Company & Securities Information
Defendant: Accelerize Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: ACLZ
Company Market: OTC-BB
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Adam Franchi, et al. v. Accelerize Inc., et al.
COURT: D. Delaware
DOCKET #: 19-CV-01086
JUDGE: Hon. Colm F. Connolly
DATE FILED: 06/12/2019
CLASS PERIOD START: 05/15/2019
CLASS PERIOD END: 06/12/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rigrodsky & Long, P.A. (Wilmington)
RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
Plaintiff's Notice of Voluntary Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available