Ademi LLP is investigating Beazer (NYSE: BZH) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Dream Finders.
Beazer shareholders will receive $33.50 for each share of Beazer common stock in an all-cash transaction at an enterprise value of approximately $2.2 billion. Beazer insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Beazer by imposing a significant penalty if Beazer accepts a competing bid. We are investigating the conduct of the Beazer board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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