According to the Complaint, CSS Industries, Inc. is a creative consumer products company focused on the craft, gift, and seasonal categories.

This action stems from a proposed transaction announced on January 20, 2020, pursuant to which CSS Industries, Inc. will be acquired by IG Design Group Americas, Inc.

On January 20, 2020, CSS’s Board of Directors caused the Company to enter into an agreement and plan of merger with IG Design.

On January 31, 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 March 30, 2020.