The Ademi Firm is investigating Cadence (NYSE: CADE) for possible breaches of fiduciary duty and other violations of law in its transaction with Huntington Bancshares.
In the transaction, Cadence shareholders will receive 2.475 shares of common stock for each outstanding share of Cadence common stock. Based on Huntington’s closing price of $16.07 as of October 24, 2025, the consideration implies $39.77 per Cadence share.
Cadence insiders will continue to receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Cadence by imposing a significant penalty if Cadence accepts a competing bid. We are investigating the conduct of the Cadence board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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