BALA CYNWYD, Pa., Feb. 22, 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.
Sumo Logic (Nasdaq – SUMO)
Under the terms of the agreement, Sumo will be acquired by affiliates of Francisco Partners. Sumo stockholders will receive $12.05 per common share at a total expected equity value of approximately $1.7 billion. The investigation concerns whether the Sumo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Francisco Partners is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/sumo-logic-nasdaq-sumo/.
Angion Biomedica Corp (Nasdaq - ANGN)
Under the terms of the deal, Angion will merge with Elicio Therapeutics, a privately-held, clinical-stage biotechnology company. Elicio will merge with a wholly-owned subsidiary of Angion, and stockholders of Elicio will receive newly issued shares of Angion common stock. Current Angion stockholders are expected to own approximately 34.5% of the newly combined company while Elicio stockholders will own 65.5% of the newly combined company. The investigation concerns whether the Angion Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to Angion shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/angion-biomedica-corp-nasdaq-angn/.
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.
