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Case Status:    DISMISSED    
On or around 09/01/2020 (Notice of voluntarily dismissal)

Filing Date: August 04, 2020

According to the Complaint, GlobalSCAPE, Inc. secures and automates the movement and integration of data in, around, and outside organizations in and out of the cloud. Founded in 1996, the Company’s data exchange and integration software and cloud services are used by thousands of customers worldwide, including global enterprises, governments, and small and medium enterprises.

This action stems from a proposed transaction announced on July 20, 2020, pursuant to which GlobalSCAPE, Inc. will be acquired by Help/Systems, LLC (“Parent”) and Grail Merger Sub, Inc. (“Merger Sub").

On July 19, 2020, GlobalSCAPE’s Board of Directors caused the Company to enter into an agreement and plan of merger with Help/Systems. Pursuant to the terms of the Merger Agreement, Merger Sub commenced a tender offer to purchase all of GlobalSCAPE’s outstanding common stock for $9.50 per share in cash. The Tender Offer is set to expire on August 27, 2020.

On July 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 September 1, 2020.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GSB
Company Market: New York SE
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-01039
JUDGE: Hon. Maryellen Noreika
DATE FILED: 08/04/2020
CLASS PERIOD START: 07/20/2020
CLASS PERIOD END: 08/04/2020
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