The Ademi Firm is investigating Dogwood (OTCQX: DSBX) for possible breaches of fiduciary duty and other violations of law in its going-private transaction.
Shareholders of Dogwood will receive 0.700 shares of TowneBank common stock for each outstanding share of Dogwood stock. The deal value per share of $25.04 is based on TowneBank’s 15-day average closing stock price of $35.77 as of August 18, 2025.
Dogwood insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Dogwood by imposing a significant penalty if Dogwood accepts a competing bid. We are investigating the conduct of the Dogwood board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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