According to the Complaint, Greenland Acquisition Corporation is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more target businesses.

On July 12, 2019, Defendants caused Greenland to enter into a share exchange agreement with Zhongchai Holding.

On September 11, 2019, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission, which recommends that Greenland’s stockholders vote to approve the Proposed Transaction at a special meeting of stockholders scheduled for October 17, 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 14, 2019.