Ademi LLP is investigating Open Lending (NASDAQ: LPRO) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with ANV Group Holdings.
Open Lending shareholders will receive $3.15 per share. Open Lending insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Open Lending by imposing a significant penalty if Open Lending accepts a competing bid. We are investigating the conduct of the Open Lending board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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