According to the Complaint, PCM, through its wholly-owned subsidiaries, is a leading multi-vendor provider of
technology solutions, including hardware, software, and services to small, medium, and enterprise businesses, state, local and federal governments, and educational institutions across the United States, Canada, and the UK.
This action stems from a proposed transaction announced on June 24, 2019, pursuant to which PCM will be
acquired by Insight Enterprises, Inc.
On June 23, 2019, PCM’s Board of Directors caused the Company to enter into an agreement and plan of merger with Insight. Pursuant to the terms of the Merger Agreement, PCM’s stockholders will receive $35.00 in cash for each share of PCM common stock they own.
On July 26, 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 26, 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 September 10, 2019.