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Case Status:    DISMISSED    
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 INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: Israel

SECURITIES INFORMATION:

Ticker Symbol: GILT
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
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:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available