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Case Status:    DISMISSED    
On or around 10/07/2019 (Notice of voluntarily dismissal)

Filing Date: July 30, 2019

According to the Complaint, WageWorks is a leader in administering Consumer-Directed Benefits (“CDBs”). The Company is dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts, health and dependent care Flexible Spending Accounts, Health Reimbursement Arrangements, and Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

This action stems from a proposed transaction announced on June 27, 2019, pursuant to which WageWorks, Inc.
will be acquired by HealthEquity, Inc.

On June 26, 2019, WageWorks’ Board of Directors caused the Company to enter into an agreement and plan of merger with HealthEquity. Pursuant to the terms of the Merger Agreement, WageWorks’ stockholders will receive $51.35 in cash for each share of WageWorks common stock they own.

On July 29, 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 August 28, 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 October 7, 2019.


Sector: Services
Industry: Business Services
Headquarters: United States


Ticker Symbol: WAGE
Company Market: New York SE
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.
COURT: D. Delaware
DOCKET #: 19-CV-01416
JUDGE: Hon. Leonard P. Stark
DATE FILED: 07/30/2019
CLASS PERIOD END: 07/30/2019
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available