Fiduciary duties
Search documents
Shamis & Gentile, P.A. Announces Investigation of Breaches of Fiduciary Duties by the Directors and Officers of Vestis Corporation -- VSTS
Globenewswire· 2025-11-05 22:28
Core Viewpoint - Shamis & Gentile, P.A. is investigating potential breaches of fiduciary duties by directors and officers of Vestis Corporation following significant stock price declines and allegations of misleading investors [1][4]. Group 1: Company Background - Vestis Corporation was spun off from Aramark's Uniform Services business on October 2, 2023, and began trading on the New York Stock Exchange [3]. - The company reported second-quarter results on May 2, 2024, that fell below market expectations, leading to a withdrawal of its full-year guidance and a weaker outlook [3]. Group 2: Stock Performance - Following the disappointing financial disclosures, Vestis' stock price declined by approximately 45% [3]. Group 3: Legal Actions - A securities class action was filed against Vestis, alleging that the company misled investors regarding its operational readiness and overstated growth prospects [4]. - The lawsuit claims that Vestis failed to disclose issues such as inherited underinvestment, internal-control weaknesses, and service challenges that negatively impacted performance [4]. Group 4: Investigation Details - Shamis & Gentile, P.A. is assessing whether Vestis' board of directors and officers maintained adequate oversight and internal controls related to the alleged misconduct [5]. - Potential governance failures may have exposed the company to significant harm, and long-term shareholders may seek corporate governance reforms and financial restitution [5].
GRINDR INVESTIGATION: Grindr Inc. (NYSE:GRND) Shareholders are Notified of the Pending Investigation into the Take Private Deal – Contact BFA Law
Globenewswire· 2025-11-05 13:07
Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Grindr Inc.'s board of directors and majority stockholders for potential breaches of fiduciary duties related to a proposed take-private transaction that may disadvantage minority shareholders [1][5]. Group 1: Investigation Details - The investigation focuses on majority stockholders James Fu Bin Lu and George Raymond Zage, III, who are proposing a transaction to take Grindr private, potentially cashing out minority shareholders while retaining their ownership [3][5]. - On October 24, 2025, Lu and Zage offered to purchase minority shareholders' shares for $18.00 each [3]. - There is no indication that the final deal will require a majority-of-the-minority stockholder vote, raising concerns about the effectiveness of the special committee appointed to oversee the transaction [4]. Group 2: Legal Options for Shareholders - Current shareholders of Grindr are encouraged to seek additional information and may have legal options available to them [2][6]. - BFA Law operates on a contingency fee basis, meaning shareholders will not incur costs unless the firm secures a favorable outcome [6].
GRND INVESTOR REMINDER: Grindr Inc. Shareholders may have Rights in the Upcoming Take Private Deal -- Contact BFA Law
Globenewswire· 2025-11-03 13:36
Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Grindr Inc.'s board of directors and majority stockholders for potential breaches of fiduciary duties related to a proposed take-private transaction that may disadvantage minority shareholders [1][5]. Group 1: Investigation Details - The investigation focuses on majority stockholders James Fu Bin Lu and George Raymond Zage, III, who are proposing a transaction to take Grindr private, potentially cashing out minority shareholders while retaining their ownership [3][5]. - On October 24, 2025, Lu and Zage offered to purchase minority shareholders' shares for $18.00 per share [3]. - There is no indication that the final deal will require a majority-of-the-minority stockholder vote, raising concerns about the effectiveness of the special committee appointed to oversee the transaction [4]. Group 2: Legal Options for Shareholders - Current shareholders of Grindr are encouraged to seek additional information and may have legal options available to them [2][6]. - BFA Law operates on a contingency fee basis, meaning shareholders will not incur costs unless the firm secures a favorable outcome [6]. Group 3: Firm Background - Bleichmar Fonti & Auld LLP is recognized as a leading international law firm specializing in securities class actions and shareholder litigation, with a strong track record of recovering significant amounts for clients [8].
JAMF INVESTOR NOTICE: Jamf Holding Corp. Shareholders May have Rights in the Upcoming Take Private Deal – Contact BFA Law
Globenewswire· 2025-11-01 11:22
Core Viewpoint - Jamf Holding Corp. is under investigation for potential breaches of fiduciary duties by its board of directors in relation to a proposed acquisition by Francisco Partners Management, L.P. at a price of $13.05 per share, which may be considered unfairly low for shareholders [1][3]. Group 1: Investigation Details - The investigation is initiated by Bleichmar Fonti & Auld LLP to determine if Jamf's board and Vista Equity Partners have acted in the best interests of shareholders regarding the acquisition [5]. - Jamf's board did not form an independent special committee to assess the acquisition, raising concerns about conflicts of interest, particularly given Vista's significant ownership stake of 34.4% and its rights to appoint four out of nine board members [4][3]. Group 2: Acquisition Context - The acquisition agreement was announced on October 29, 2025, with the proposed price of $13.05 per share potentially undervaluing the company and its shareholders [3]. - The deal is subject to a stockholder vote, but Vista has not been excluded from participating in that vote, which could further complicate the situation [4].
RYI Stock Alert: Halper Sadeh LLC is Investigating Whether the Merger of Ryerson Holding Corporation is Fair to Shareholders
Businesswire· 2025-10-29 10:51
Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the merger between Ryerson Holding Corporation and Olympic Steel, Inc. for Ryerson shareholders, as they will own approximately 63% of the combined entity upon completion of the transaction [1]. Group 1: Investigation Details - The investigation focuses on whether Ryerson and its board violated federal securities laws or breached fiduciary duties by not obtaining the best possible consideration for shareholders and failing to disclose all material information necessary for assessing the merger [3]. - Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures, and other relief related to the proposed transaction [4]. Group 2: Legal Rights and Contact Information - Ryerson shareholders are encouraged to contact Halper Sadeh LLC to learn about their legal rights and options regarding the merger [2]. - The firm operates on a contingent fee basis, meaning shareholders would not incur out-of-pocket legal fees or expenses [4].
Shareholder Update Class Action Lawsuit Against Driven Brands Holdings Inc. Survives Motion to Dismiss: Johnson Fistel PLLP Continues to Investigate the Directors and Officers for Breach of Fiduciary Duties
Globenewswire· 2025-10-28 19:31
Core Viewpoint - Johnson Fistel, PLLP is investigating potential breaches of fiduciary duties by certain directors and officers of Driven Brands Holdings Inc. (NASDAQ: DRVN) towards the company and its shareholders [1][4]. Group 1: Investigation Details - The investigation aims to determine if senior officers or board members harmed Driven Brands by breaching fiduciary duties or violating securities laws related to misrepresentations and omissions [4]. - The court has previously denied the defendants' motion to dismiss a shareholder class action lawsuit, which alleges misrepresentations regarding Driven's ability to integrate acquired businesses and the performance of its car wash segment [3]. Group 2: Shareholder Rights - Current long-term shareholders of Driven Brands may have legal claims that can be brought against the company's directors and officers [2]. - Shareholders can join the investigation through a provided link to discuss their legal rights [3].
GRND INVESTIGATION NOTICE: Think the Grindr Inc. Take Private Offer is Too Low? Contact BFA Law about its Pending Investigation
Globenewswire· 2025-10-26 11:39
Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Grindr Inc.'s board of directors and majority stockholders for potential breaches of fiduciary duties related to a proposed take-private transaction that may disadvantage minority shareholders [1][5]. Group 1: Investigation Details - The investigation focuses on majority stockholders James Fu Bin Lu and George Raymond Zage, III, who are proposing a transaction to take Grindr private, potentially cashing out minority shareholders while retaining their ownership [3][5]. - Lu and Zage have secured debt financing of up to $1 billion, contingent on the deal being at or above $15 per share [3]. - There is no indication that the final deal will require a majority-of-the-minority stockholder vote, raising concerns about the effectiveness of the special committee appointed by the company [4]. Group 2: Legal Options for Shareholders - Current shareholders of Grindr are encouraged to seek additional information and may have legal options available to them [2][6]. - BFA Law operates on a contingency fee basis, meaning shareholders will not incur court costs or litigation expenses unless the firm secures a favorable outcome [6].
GES STOCK NOTICE: Current Guess?, Inc. Shareholders are Notified to Protect their Rights – Contact BFA Law about its Pending Investigation into the Merger
Globenewswire· 2025-10-22 11:28
Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Guess?, Inc.'s board of directors and executive officers for potential breaches of fiduciary duties to shareholders related to the company's pending sale to Authentic Brands Group LLC for $16.75 per share [1]. Company Overview - Guess is a fashion retailer with over 1,500 directly operated retail stores and distribution operations in approximately 100 countries, founded in 1981 by the Marciano family, who still own a significant portion of the company's stock [3]. - Paul Marciano, one of the founders, remains on the board and serves as the Chief Creative Officer [3]. Transaction Details - Paul Marciano and other investors have negotiated to rollover their ownership in Guess to own up to 49% of the new intellectual property holding company and 100% of the operating company post-closing [4]. Legal Investigation - BFA Law is investigating whether the board of directors, executive officers, and/or stockholders involved in the rollover have breached fiduciary duties to shareholders in connection with the merger [5].
GES SECURITIES NEWS: Guess?, Inc. Faces Investigation into the $16.75 Authentic Brands Merger -- Contact BFA Law if You Have Shares
Globenewswire· 2025-10-20 12:36
Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Guess?, Inc.'s board of directors and executive officers for potential breaches of fiduciary duties to shareholders related to the company's pending sale to Authentic Brands Group LLC for $16.75 per share [1]. Company Overview - Guess is a fashion retailer with over 1,500 directly operated retail stores and distribution operations in approximately 100 countries, founded in 1981 by the Marciano family, who still own a significant portion of the company's stock [3]. - Paul Marciano, one of the founders, remains on the Board and serves as the Chief Creative Officer [3]. Transaction Details - Paul Marciano and other investors have negotiated to rollover their ownership in Guess to own up to 49% of the new intellectual property holding company and 100% of the operating company post-closing [4]. Legal Investigation - BFA Law is investigating whether the board of directors, executive officers, and/or stockholders involved in the rollover have breached fiduciary duties to shareholders in connection with the merger [5].
GRND SHAREHOLDER ALERT: Did the Grindr Inc. (NYSE: GRND) Board Breach its Fiduciary Duties to Shareholders? Contact BFA Law about its Investigation
Globenewswire· 2025-10-16 12:14
Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating Grindr Inc.'s board of directors and majority stockholders for potential breaches of fiduciary duties related to a proposed take-private transaction that may disadvantage minority shareholders [1][5]. Group 1: Investigation Details - The investigation focuses on majority stockholders James Fu Bin Lu and George Raymond Zage, III, who are proposing a transaction to take Grindr private, potentially cashing out minority stockholders while preserving their own ownership [3][5]. - Lu and Zage have secured debt financing of up to $1 billion, contingent on the deal being at or above $15 per share [3]. - There is no indication that the final deal will require a majority-of-the-minority stockholder vote, raising concerns about the effectiveness of the special committee appointed by the company [4]. Group 2: Legal Options for Shareholders - Current shareholders of Grindr are encouraged to seek additional information and may have legal options available to them [2][6]. - BFA Law operates on a contingency fee basis, meaning shareholders will not incur court costs or litigation expenses [6].