The legal action, spearheaded by the Rosen Law Firm, targets losses sustained by those who sold shares between May 13, 2025, and August 26, 2025, or who participated in the $9.15-per-share cash merger. The complaint contends that the company’s proxy statement and related solicitation materials obscured the true value of the transaction. Specifically, the filing alleges that the board presented the sale as an arm’s-length strategic review while failing to disclose Executive Chairman Foley’s personal interest in an expedited exit.
Furthermore, the lawsuit claims the company omitted Bank of America Securities’ valuations of potentially superior alternatives and misrepresented the board's approval of downward financial projections. The complaint also highlights undisclosed material ties between Foley and the financial and legal advisors involved in the deal. Investors who held stock as of the May 9, 2025, record date or exchanged shares in the merger are eligible to join the litigation, which seeks to recover damages caused by the allegedly misleading disclosures.




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