On or around 10/05/2020 (Notice of voluntarily dismissal)
Filing Date: March 06, 2020
According to the Complaint, Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications.
This action stems from a proposed transaction announced on January 29, 2020, pursuant to which Gilat Satellite Networks Ltd. will be acquired by Comtech Telecommunications Corp.
On January 29, 2020, Gilat’s Board of Directors caused the Company to enter into an agreement and plan of merger with Comtech. Pursuant to the terms of the Merger Agreement, Gilat’s stockholders will receive $7.18 in cash and 0.08425 shares of Parent common stock for each share of Gilat common stock they own.
On March 2, 2020, 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.
On October 5, 2020, Gilat and Comtech agreed to terminate the merger agreement. Plaintiff voluntarily dismissed this case on the same day.
Company & Securities Information
Defendant: Gilat Satellite Networks Ltd.
Industry: Communications Equipment
Ticker Symbol: GILT
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
John Thompson, et al. v. Gilat Satellite Networks Ltd., et al.
COURT: D. Delaware
DOCKET #: 20-CV-00339
JUDGE: Hon. Colm F. Connolly
DATE FILED: 03/06/2020
CLASS PERIOD START: 01/29/2020
CLASS PERIOD END: 03/06/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rigrodsky & Long, P.A. (Wilmington)
RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
Plaintiff's Notice of Voluntary Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available