BALA CYNWYD, Pa., June 13, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ([email protected]) or Marc Ackerman ([email protected]) at 855-576-4847. There is no cost or financial obligation to you.
Steel Connect, Inc. (Nasdaq - STCN)
Under the terms of the agreement, holders of Steel Connect’s outstanding shares of common stock will receive $1.35 per share in cash and one contingent value right (“CVR”) to receive their pro rata share of net proceeds, to the extent such net proceeds exceed $80 million plus certain related costs and expenses, if Steel Connect’s ModusLink subsidiary is sold during the two-year period following completion of the merger. The investigation concerns whether the Steel Connect Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether the deal is fair to Steel Connect shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/steel-connect-inc-nasdaq-stcn/.
Duke Realty Corporation ( - DRE)
Under the terms of the agreement, Duke shareholders will receive 0.475 of a Prologis share for each Duke share they own. The transaction is valued at approximately $26 billion, including assumption of debt. The investigation concerns whether the Duke Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether the deal is fair to Duke shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/duke-realty-corporation--dre/.
Centennial Resource Development, Inc. (Nasdaq - CDEV)
Under the terms of the agreement, Centennial will merge with Colgate Energy Partners III, LLC (“Colgate”). Colgate is valued at approximately $3.9 billion and is the deal is comprised of 269.3 million shares of Centennial stock, $525 million of cash and the assumption of approximately $1.4 billion of Colgate’s outstanding net debt. Centennial shareholders will hold approximately 53% of the combined company. The investigation concerns whether the Centennial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether the deal is fair to Centennial shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/centennial-resource-development-inc-nasdaq-cdev/.
Mudrick Capital Acquisition Corporation II (Nasdaq - MUDS)
Under the terms of the agreement, Mudrick II, a special purpose acquisition company, will combine with Blue Nile, Inc. (“Blue Nile”), an online retailer of GIA graded, conflict-free diamonds, diamond engagement rings, and fine jewelry, and result in Blue Nile becoming a publicly-listed company. Mudrick II shareholders will retain ownership of 37% of the combined company. The investigation concerns whether the Mudrick II Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at visit https://www.brodskysmith.com/cases/mudrick-capital-acquisition-corporation-ii-nasdaq-muds/.
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.
