BALA CYNWYD, Pa., March 14, 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.
Volt Information Sciences, Inc ( American - VOLT)
Under the terms of the agreement, Volt will be acquired by Vega Consulting, Inc. (“Vega”), an affiliate of ACS Solutions. Volt shareholders will receive $60.00 in cash for each share of Volt owned. The investigation concerns whether the Volt Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Vega is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/volt-information-sciences-inc--american-volt/.
Whiting Petroleum Corporation ( - WLL)
Under the terms of the agreement, Whiting shareholders will receive 0.5774 Oasis shares plus $6.25 in cash for each share of Whiting owned, representing an implied merger consideration of approximately $91.53 per share. Upon completion of the transaction, Whiting shareholders will own approximately 53% of the combined company, while Oasis shareholders will own 47% of the combined company. Also, in connection with the closing of the transaction, Oasis shareholders will receive a special dividend of $15.00 per share. The transaction is valued at approximately $6 billion. The investigation concerns whether the Whiting Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution in shares in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/whiting-petroleum-corporation--wll/.
Intricon Corporation (Nasdaq - IIN)
Under the terms of the agreement, Intricon will be acquired by an affiliate of Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”). Intricon shareholders will receive $24.25 in cash for each share of Intricon stock they hold. The investigation concerns whether the Intricon Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Altaris is paying too little for the Company. For example, the deal consideration is below the 52-week high of $28.16 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/intricon-corporation-nasdaq-iin/.
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