Ademi LLP is investigating KORE (NYSE: KORE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Searchlight Capital Partners and Abry Partners.
In the transaction, KORE stockholders will receive $9.25 per share in an all-cash acquisition valued at approximately $726 million. KORE insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for KORE by imposing a significant penalty if KORE accepts a competing bid. We are investigating the conduct of the KORE board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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