The Ademi Firm is investigating Blue Foundry (NASDAQ: BLFY) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Fulton Financial.
In the transaction, Blue Foundry shareholders will receive 0.6500 shares of Fulton common stock for each of their shares. Based on Fulton’s share price of $17.96 as of November 21, 2025, the deal values Blue Foundry at $11.67 per share.
Blue Foundry insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Blue Foundry by imposing a significant penalty if Blue Foundry accepts a competing bid. We are investigating the conduct of the Blue Foundry board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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