The Ademi Firm is investigating Flowserve (NYSE: FLS) for possible breaches of fiduciary duty and other violations of law in its transaction with Chart Industries.
In the reverse merger transaction, shareholders of Flowserve shareholders will own approximately 46.5% of the combined company. Flowserve insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Flowserve by imposing a significant penalty if Flowserve accepts a competing bid. We are investigating the conduct of the Flowserve board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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