According to the Complaint, Speedway Motorsports, Inc. ("Speedway") is a leading marketer and promoter of motorsports entertainment in the United States.

This action stems from a proposed transaction announced on July 24, 2019, pursuant to which Speedway will be acquired by Sonic Financial Corporation.

On July 23, 2019, Speedway’s Board of Directors caused the Company to enter into an agreement and plan of merger with Sonic.

On August 16, 2019, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.

This case was voluntarily dismissed on February 28, 2020.