MILWAUKEE, June 21, 2024 /PRNewswire/ -- Ademi LLP is investigating Sharecare (Nasdaq: SHCR) for possible breaches of fiduciary duty and other violations of law in its transaction with Altaris.
Click here to learn how to join the https://www.ademilaw.com/case/sharecare-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Sharecare public shareholders will receive $1.43 per share for each outstanding share of Sharecare common stock held. Jeff Arnold has agreed to vote his shares in favor of the transaction, and will roll over substantially all of his existing equity and continue to be a significant shareholder following this transaction. In addition, Arnold will continue to serve as executive chairman and Layton as CEO, and Sharecare's current executive leadership team is expected to continue in their roles following the close of the transaction. Together, all directors and executive officers as a group own approximately 30% of the outstanding shares.
The transaction agreement unreasonably limits competing transactions for Sharecare by imposing a significant penalty if Sharecare accepts a competing bid. Sharecare insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Sharecare's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Sharecare 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/sharecare-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
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-ademi-llp-investigates-whether-sharecare-inc-has-obtained-a-fair-price-for-its-public-shareholders-302179178.html
SOURCE Ademi LLP
