According to the Complaint, Versum Materials, Inc. is a global specialty materials company providing high-purity chemicals and gases, delivery systems, services and materials expertise in the global semiconductor and display industries.

On April 12, 2019, Merck and Versum issued a joint press release announcing they had entered into an Agreement and Plan of Merger dated April 12, 2019 to sell Versum to Merck. Under the terms of the Merger Agreement, each Versum stockholder will receive $53.00 in cash for each share of Versum common stock they own.

On May 13, 2019, Versum filed a Schedule 14A Definitive Proxy Statement with the SEC. The Complaint alleges that the Proxy Statement, which recommends that Versum stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) Versum’s financial projections, relied upon by the Company’s financial advisors in their financial analyses; and (ii) the data and inputs underlying the financial valuation analyses that support the fairness opinions provided by the Company's financial advisors.

This case was voluntarily dismissed on June 13, 2019.