The Ademi Firm is investigating Blackbox (Nasdaq: BLBX) for possible breaches of fiduciary duty and other violations of law in its transaction with REalloys.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the reverse merger transaction, Blackbox’s and REalloys’ stockholders will own approximately 7.3% and 92.7%, respectively, of the combined company’s shares of common stock expected to be outstanding upon closing of the Merger, based on REalloys’ initial valuation of $400 million. Blackbox’s stockholders of record prior to closing will receive Contingent Value Rights entitling them to certain net proceeds from the potential sale of Blackbox’s current fintech operations within 24 months post-Merger. Blackbox insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Blackbox by imposing a significant penalty if Blackbox accepts a competing bid. We are investigating the conduct of the Blackbox board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contacts
Ademi & Fruchter LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001