BALA CYNWYD, Pa., Oct. 05, 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.
SP® Plus Corporation (Nasdaq – SP)
Under the terms of the Merger Agreement, SP+ will be acquired by Metropolis Technologies, Inc. (“Metropolis”) for $54.00 per share in cash for each share of SP+ held. The deal has an aggregate enterprise value of approximately $1.5 billion. The investigation concerns whether the SP+ Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Metropolis is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/sp-plus-corporation-nasdaq-sp/.
Orchard Therapeutics plc (Nasdaq – ORTX)
Under the terms of the agreement, Orchard will be acquired by Kyowa Kirin Co., Ltd. (“Kyowa Kirin”) for $16.00 per American Depositary Share (ADS) in cash (approximately $387.4 million), under which Orchard shareholders will hold an additional contingent value right (“CVR”) of $1.00 per ADS. The investigation concerns whether the Orchard Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Kyowa Kirin is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/orchard-therapeutics-plc-nasdaq-ortx/.
Summit Materials (NYSE – SUM)
Under the terms of the agreement, Summit will merge with Argos North America Corp. (“Argos”). The companies will combine in a cash and stock transaction valued at $3.2 billion. Post close, Argos will have a 31% interest in Summit. The investigation concerns whether the Summit Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of Summit shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/summit-materials-nyse-sum/.
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.
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