BALA CYNWYD, Pa., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Focus Financial Partners Inc. (Nasdaq - FOCS)
Under the terms of the agreement, Focus Financial will be acquired by affiliates of Clayton, Dubilier & Rice, LLC (“CD&R”). CD&R will pay $53.00 in cash for each share of Focus Financial common stock in a deal with an enterprise value of approximately $7 billion. The investigation concerns whether the Focus Financial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether CD&R is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/focus-financial-partners-inc-nasdaq-focs/.
Broadmark Realty Capital Inc. (NYSE – BRMK)
Under the terms of the deal, Broadmark will merge with Ready Capital Corporation (“Ready Capital”) (NYSE -RC). Each share of Broadmark common stock will be converted into 0.47233 shares of Ready Capital common stock. The respective closing stock prices for Ready Capital and Broadmark on February 24, 2023 imply an offer price of $5.90 per Broadmark share. Upon the closing of the merger, Ready Capital stockholders are expected to own approximately 64% of the combined company’s stock, while Broadmark stockholders are expected to own approximately 36% of the combined company’s stock. The investigation concerns whether the Broadmark Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to Broadmark shareholders in the combined company and whether the deal price is too low. For example, the implied deal consideration is below the 52-week high of $8.91 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/broadmark-realty-capital-inc-nyse-brmk/ .
TravelCenters of America Inc. (Nasdaq - TA)
Under the terms of the Merger Agreement, TravelCenters will be acquired by BP p.l.c. (NYSE - BP). BP will pay $86.00 in cash for each share of TravelCenters common stock in a deal valued at approximately $1.3 billion. The investigation concerns whether the TravelCenters Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether BP is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/travelcenters-america-inc-nasdaq-ta/.
IAA, Inc. (NYSE - IAA)
Under the terms of the Merger Agreement, IAA will be acquired by Ritchie Bros. Auctioneers Incorporated (“Ritchie Bros.”) (NYSE - RBA). Ritchie Bros. will pay $10.00 in cash and 0.5804 shares of Ritchie Bros. common stock (representing $46.88 per share) for each share of IAA common stock in a deal valued at approximately $7.3 billion. The investigation concerns whether the IAA Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Ritchie Bros.is paying too little for the Company. For example, the deal consideration is below the 52-week high of $55.01 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/iaa-inc-nyse-iaa/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
