According to the Complaint, Care.com, Inc. is the world’s largest online destination for finding and managing family care, with 19.8 million families and 14.3 million caregivers across more than twenty countries, including the United States, U.K., Canada, and parts of Western Europe, and approximately 1.7 million employees of corporate clients having access to the Company’s services.
This action stems from a proposed transaction announced on December 20, 2019, pursuant to which Care.com, Inc. will be acquired by IAC/InterActivCorp.
On December 20, 2019, Care.com’s Board of Directors caused the Company to enter into an agreement and plan of merger with IAC.
On January 13, 2020, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.
This case was voluntarily dismissed on February 19, 2020.