According to the Complaint, Foamix Pharmaceuticals Ltd is a specialty pharmaceutical company that focuses on therapeutic challenges in dermatology.

This action stems from a proposed transaction announced on November 11, 2019, pursuant to which Foamix Pharmaceuticals Ltd. will be acquired by Menlo Therapeutics Inc.

On November 10, 2019, Foamix’s Board of Directors caused the Company to enter into an agreement and plan of merger with Menlo. Pursuant to the terms of the Merger Agreement, Foamix’s stockholders will receive 0.5924 shares of Parent common stock and one contingent stock right for each share of Foamix common stock they own.

On December 4, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

This case was voluntarily dismissed on May 4, 2020.