SAN DIEGO, April 15, 2024 (GLOBE NEWSWIRE) — SAN DIEGO, CA, – Johnson Fistel, LLP, a leading stockholder rights law firm, announced today that it has initiated an investigation into the board members of Snap One Holdings Corp. (NASDAQ: SNPO) (“Snap One”) concerning potential breaches of fiduciary duties related to the proposed sale of the Company to Resideo Technologies (NYSE:REZI).
On April 15, 2024, Snap One Holdings Corp. publicized a definitive acquisition agreement with Resideo Technologies Inc., wherein Snap One’s shareholders will receive a consideration of $10.75 per share, payable in cash, upon the successful completion of the transaction.
Considering this, the law firm Johnson Fistel, LLP, has initiated an extensive investigation into the transaction. The primary objective of this inquiry is to confirm that Snap One’s board of directors has acted in accordance with their fiduciary obligations to the shareholders. The investigation intends to determine whether the board has adequately explored alternative strategies to the acquisition, as well as if they have secured the highest possible value for Snap One’s shares in the agreement.
The relevance of this investigation is underscored by the forward-looking estimates of analysts for the company’s earnings and revenue growth. It is important to highlight that a few years prior, Snap One’s shares traded at a substantially higher price, exceeding $20.00 per share. Consequently, the present all-cash offer price may necessitate additional review to ascertain that the shareholders’ best interests were taken into account and safeguarded during the negotiation process.
Stockholders of Snap One are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. You can click or copy and paste the following link to join this investigation:
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