MILWAUKEE, Jan. 6, 2022 /PRNewswire/ -- Ademi LLP is investigating Castlight (NYSE: CSLT) for possible breaches of fiduciary duty and other violations of law in its transaction with Vera.
Click here to learn how to join the action: https://www.ademilaw.com/case/castlight-health-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Castlight's financial outlook and prospects are excellent and yet Castlight shareholders will receive only $2.05 for all outstanding shares of Castlight Class A common stock and Class B common stock, for a total equity value of approximately $370 million structured as an all-cash tender offer. The merger agreement unreasonably limits competing bids for Castlight by prohibiting solicitation of further bids, and imposing a significant penalty if Castlight accepts a superior bid. Castlight insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Castlight's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Castlight.
If you own Castlight common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/castlight-health-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
