According to the Complaint, Fibit, Inc. designs products and experiences that track and provide motivation for everyday health and fitness.

This action stems from a proposed transaction announced on November 1, 2019, pursuant to which Fitbit will be acquired by Google LLC. On November 1, 2019, Fitbit’s Board of Directors caused the Company to enter into an agreement and plan of merger with Google. Pursuant to the terms of the Merger Agreement, Fitbit’s stockholders will receive $7.35 in cash for each share of Fitbit common stock they own.

On November 25, 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 29, 2020.