The Ademi Firm is investigating The ODP Corporation (NASDAQ: ODP) for possible breaches of fiduciary duty and other violations of law in its transaction with Atlas Holdings.
Shareholders of The ODP Corporation will receive $28 per share in a transaction valued at approximately $1 billion. The ODP Corporation insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for The ODP Corporation by imposing a significant penalty if The ODP Corporation accepts a competing bid. We are investigating the conduct of the The ODP Corporation board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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