Bala Cynwyd, Pennsylvania--(Newsfile Corp. - November 1, 2022) - Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company's agreement to be acquired by Poseidon Acquisition Corp. ("Poseidon"), an entity formed by certain affiliates of Fairfax Financial Holdings Limited, certain affiliates of the Washington Family, David Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd. Under the terms of the Merger Agreement, Poseidon will pay $15.50 a share in cash for all outstanding shares of Atlas. The deal has an enterprise value of $10.9 billion.
The investigation concerns whether the Atlas Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Poseidon is paying too little for the Company.
If you own shares of Atlas stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/atlas-corp-nyse-atco/, or call toll free 855-576-4847.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142627
