The Ademi Firm is investigating Brighthouse Financial (NASDAQ: BHF) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Aquarian Capital.
In the transaction, Brighthouse Financial shareholders will receive $70.00 per share in an all-cash transaction valued at approximately $4.1 billion. Brighthouse Financial insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Brighthouse Financial by imposing a significant penalty if Brighthouse Financial accepts a competing bid. We are investigating the conduct of the Brighthouse Financial board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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