The Ademi Firm is investigating DigitalBridge (Nasdaq: DVAX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with SoftBank.
In the transaction, DigitalBridge shareholders will receive $16 per share, valuing DigitalBridge at approximately $4 billion. DigitalBridge insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for DigitalBridge by imposing a significant penalty if DigitalBridge accepts a competing bid. We are investigating the conduct of the DigitalBridge board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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