NEW YORK, March 25, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Columbia Care Inc. ("Columbia Care" or the "Company") (OTCQX: CCHWF) in connection with its proposed merger with Cresco Labs ("Cresco") (OTCQX: CRLBF). Under the terms of the merger agreement, the Company's shareholders will receive 0.5579 shares of Cresco for each share of Columbia Care common stock owned, representing an implied per-share merger consideration of approximately $3.25 based upon Cresco's March 24, 2022 closing price of $5.82. Upon completion of the transaction, Cresco shareholders will own approximately 65% and Columbia Care shareholders will own only 35% of the combined company.
If you own Columbia Careshares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/cchwf
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating whether: (i) Columbia Care's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Columbia Care's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
