Ademi LLP is investigating CBIZ (NYSE: CBZ) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Grant Thornton Advisors.
CBIZ shareholders will receive $55.00 per share in an all-cash transaction valued at $5 billion. CBIZ insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for CBIZ by imposing a significant penalty if CBIZ accepts a competing bid. We are investigating the conduct of the CBIZ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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