Ademi LLP is investigating Kennedy Wilson (NYSE: TW) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with a consortium led by Chairman and CEO William McMorrow and Fairfax Financial Holdings Limited.
In the transaction, Kennedy Wilson stockholders will receive $10.90 per share. Kennedy Wilson insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Kennedy Wilson by imposing a significant penalty if Kennedy Wilson accepts a competing bid. We are investigating the conduct of the Kennedy Wilson board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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