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Case Status:    DISMISSED    
On or around 10/20/2020 (Notice of voluntarily dismissal)

Filing Date: September 02, 2020

According to the Complaint, Neonode Inc. develops optical touch and gesture control solutions for human-machine interface with devices and remote sensing solutions for driver and cabin monitoring features in automotive and other application areas.

The Complaint alleges that Defendants disseminated a materially incomplete proxy statement filed by Neonode Inc. with the United States Securities and Exchange Commission on August 20, 2020. The Proxy Statement scheduled a meeting of Neonode’s stockholders for September 29, 2020 to vote upon the following proposals, among others:

(1) To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the issuance of shares of common stock underlying Preferred Stock sold in Neonode’s August 5, 2020 private placement; [and]
(2) To approve, for purposes of complying with Nasdaq Listing Rule 5635(c), the issuance of shares of common stock underlying Preferred Stock sold to directors and an officer of Neonode in Neonode’s August 5, 2020 private placement[.]

The Complaint allges that the Proxy Statement omits material information, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on October 20, 2020.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: Sweden

SECURITIES INFORMATION:

Ticker Symbol: NEON
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-01174
JUDGE: Hon. Leonard P. Stark
DATE FILED: 09/02/2020
CLASS PERIOD START: 08/20/2020
CLASS PERIOD END: 09/02/2020
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