BALA CYNWYD, Penn., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Longboard Pharmaceuticals (Nasdaq - LBPH)
Under the terms of the agreement, Longboard will be acquired by H. Lundbeck A/S (“Lundbeck”) for $60.00 per share in cash in a deal with an equity value of approximately $2.6 billion. The investigation concerns whether the Longboard Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Lundbeck is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/longboard-pharmaceuticals-nasdaq-lbph/.
Village Bank and Trust Financial Corp. (Nasdaq - VBFC)
Under the terms of the agreement, Village will be acquired by TowneBank (Nasdaq - TOWN) for $80.25 per share in cash for each share of Village outstanding common stock. This corresponds to an aggregate transaction value of approximately $120.0 million, based on Village common stock currently outstanding. The investigation concerns whether the Village Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/village-bank-trust-financial-corp-nasdaq-vbfc/.
Smartsheet Inc. (NYSE - SMAR)
Under the terms of the Merger Agreement, Smartsheet will be acquired by funds managed by Blackstone and Vista Equity Partners (the “Buyers”) in an all-cash transaction valued at approximately $8.4 billion. The Buyers would acquire all the outstanding shares held by Smartsheet shareholders for $56.50 per share in cash upon the closing of the proposed transaction. The investigation concerns whether the Smartsheet Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/smartsheet-inc-nyse-smar/.
Northway Financial, Inc. (OTCQB - NWYF)
Under the terms of the agreement, Northway will be acquired by Camden National Corporation (“Camden National”) (Nasdaq - CAC). Northway shareholders will receive 0.83 shares of Camden National common stock for each outstanding share of Northway common stock. Based on Camden National's closing stock price of $37.90 on September 9, 2024, the transaction is valued at approximately $86.6 million or $31.46 per share of Northway common stock. Upon completion of the transaction, Camden National shareholders will own approximately 86% of the combined company and Northway's shareholders will own approximately 14% of the combined company. The investigation concerns whether the Northway Financial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Camden National is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/northway-financial-inc-otcqb-nwyf/
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