According to the Complaint, AquaVenture Holdings Limited is a multinational provider of WAAS solutions that provide customers a reliable and cost-effective source of clean drinking and processed water primarily under long-term contracts that minimize capital investment by the customer.

This action stems from a proposed transaction announced on December 23, 2019, pursuant to which AquaVenture Holdings Limited will be acquired by Culligan International Company.

On December 23, 2019, AquaVenture’s Board of Directors caused the Company to enter into an agreement and plan of merger with Culligan. Pursuant to the terms of the Merger Agreement, AquaVenture’s stockholders will receive $27.10 in cash for each share of AquaVenture common stock they own.

On January 27, 2020, 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 April 20, 2020.