According to the Complaint, OMNOVA Solutions Inc. is a global innovator of performance-enhancing chemistries and surfaces used in products for a variety of commercial, industrial, and residential applications.

This action stems from a proposed transaction announced on July 3, 2019, pursuant to which OMNOVA Solutions Inc. will be acquired by Synthomer plc.

On July 3, 2019, OMNOVA’s Board of Directors caused the Company to enter into an agreement and plan of merger with Synthomer. Pursuant to the terms of the Merger Agreement, OMNOVA’s stockholders will receive $10.15 in cash for each share of OMNOVA common stock they own.

On September 9, 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 October 10, 2019.

The Complaint 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 31, 2019.