The Ademi Firm is investigating Core Scientific (NYSE: CORZ) for possible breaches of fiduciary duty and other violations of law in its transaction with CoreWeave.
In the transaction, shareholders of Core Scientific will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each Core Scientific share they own in an all-stock transaction valued at approximately $9.0 billion. Core Scientific insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Core Scientific by imposing a significant penalty if Core Scientific accepts a competing bid. We are investigating the conduct of the Core Scientific board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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