BALA CYNWYD, Pa., Sept. 19, 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.
PFSweb, Inc. (Nasdaq – PFSW)
Under the terms of the Agreement, PFSweb will be acquired by GXO Logistics, Inc. (“GXO”) (NYSE – GXO). Under the terms of the agreement, GXO will pay $7.50 in cash for each share of PFSweb held. The investigation concerns whether the PFSweb Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether GXO is paying fair value to shareholders of the Company. For example, the deal consideration is less than the 52-week high of $11.45 for the Company’s shares.
Additional information can be found at: https://www.brodskysmith.com/cases/pfsweb-inc-nasdaq-pfsw/.
American National Bankshares Inc. (NASDAQ -AMNB)
Under the terms of the agreement, American National will be acquired by Atlantic Union Bankshares Corporation (“Atlantic Union”) (NYSE – AUB). Each outstanding share of American National common stock will be converted into the right to receive 1.35 shares of Atlantic Union common stock, valuing the transaction at approximately $416.8 million, or $39.23 per share, based on Atlantic Union’s ten-day weighted average closing stock price ending July 24, 2023. The investigation concerns whether the American National Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Atlantic Union paying less than full value for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/american-national-bankshares-inc-nasdaq-amnb/.
Hostess Brands, Inc. (Nasdaq – TWNK)
Under the terms of the agreement, Hostess will be acquired by J.M. Smucker Co. (NYSE – SJM). Under the terms of the merger agreement, Hostess shareholders will receive $30.00 in cash and 0.03002 shares of The J.M. Smucker Co. common stock (valued at $4.25 as of September 8, 2023) for each share of Hostess common stock. This represents a transaction value of approximately $5.6 billion. The investigation concerns whether the Hostess Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether The J.M. Smucker Co.is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/hostess-brands-inc-nasdaq-twnk/.
Avantax, Inc. (Nasdaq – AVTA)
Under the terms of the Merger Agreement, Avantax will be acquired by Cetera Financial Group (“Cetera”). Under the terms of the merger agreement, holders of shares of Avantax common stock will receive $26.00 in cash for each share of Avantax they hold. The investigation concerns whether the Avantax Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Cetera is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $30.23 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/avantax-inc-nasdaq-avta/.
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.
- BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: PFSweb, Inc. (Nasdaq – PFSW), Hostess Brands, Inc. (Nasdaq – TWNK), Avantax, Inc. (Nasdaq – AVTA), American National Bankshares Inc. (NASDAQ -AMNB) - September 19, 2023
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