Ademi LLP is investigating Olaplex (NASDAQ: OLPX) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Henkel.
In the transaction, Olaplex stockholders will receive $2.06 per share in a cash transaction valued at approximately $1.4 billion. Olaplex insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Olaplex by imposing a significant penalty if Olaplex accepts a competing bid. We are investigating the conduct of the Olaplex board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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