Ademi LLP is investigating Bsquare (Nasdaq: BSQR) for possible breaches of fiduciary duty and other violations of law in its transaction with Kontron.
In the transaction, Bsquare stockholders are expected to receive only $1.90 per share of common stock in cash, for a total equity value of approximately $38 million. The transaction agreement unreasonably limits competing transactions for Bsquare by imposing a significant penalty if Bsquare accepts a competing bid. Bsquare insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Bsquare’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.