Retalix Downs Investor Suit, Closes $33M Equity Deal

Law360, New York (November 20, 2009, 2:30 PM EST) -- Retalix Ltd. has quickly snuffed a putative shareholder class action accusing the software company and its directors of agreeing to a lopsided $32.9 million share purchase agreement with a group of investors.

The company, a leading provider of point of sale software for retailers, announced Thursday that the plaintiff agreed to dismiss the case that had tried to block the strategic financing transaction, which has now been consummated.

The plaintiff asked Judge Richard A. Schell of the U.S. District court for the Eastern District of Texas...
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