According to the Complaint, Presidio, Inc. is a leading North American IT solutions provider focused on Digital Infrastructure, Cloud, and Security solutions to create secure infrastructure platforms for commercial and public sector customers.

This action stems from a proposed transaction announced on August 14, 2019, pursuant to which Presidio, Inc. will be acquired by BCEC – Port Holdings (Delaware) LP.

On August 14, 2019, Presidio’s Board of Directors caused the Company to enter into an agreement and plan of merger with BCEC, which was amended on September 25, 2019. Pursuant to the terms of the Merger Agreement, Presidio’s stockholders will receive $16.60 in cash for each share of Presidio common stock they own.

On September 10, 2019, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. 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 November 20, 2019.