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.