According to the Complaint, Electronics For Imaging, Inc. ("EFI") is a global technology company that is leading the worldwide transformation from analog to digital imaging. The Company provides products that increase competitiveness and boost productivity by developing breakthrough technologies for the manufacturing of signage, packaging, textiles, ceramic tiles, and personalized documents, with a wide range of printers, inks, digital front ends, and a comprehensive business and production workflow suite that transforms and streamlines the entire production process.
This action stems from a proposed transaction announced on April 15, 2019, pursuant to which EFI will be acquired by affiliates of Siris Capital Group, LLC.
On April 14, 2019, EFI’s Board of Directors caused the Company to enter into an agreement and plan of merger
with East Private Holdings II, LLC and East Merger Sub, Inc. Pursuant to the terms of the Merger Agreement, EFI’s stockholders will receive $37.00 in cash for each share of EFI common stock they own.
On June 11, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction, which scheduled a stockholder vote on the Proposed Transaction for July 15, 2019.
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 10, 2019.