According to the Complaint, Arotech Corporation is a defense and security company engaged in two business areas: interactive simulation and mobile power systems.

This action stems from a proposed transaction announced on September 23, 2019, pursuant to which Arotech Corporation will be acquired by Argonaut Intermediate, Inc., an affiliate of Greenbriar Equity Group, L.P.

On September 22, 2019, Arotech’s Board of Directors caused the Company to enter into an agreement and plan of merger with Argonaut. Pursuant to the terms of the Merger Agreement, Arotech’s stockholders will receive $3.00 in cash for each share of Arotech common stock they own.

On October 23, 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 January 28, 2020.