The Ademi Firm is investigating Eventbrite (NYSE: EB) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Bending Spoons.
In the transaction, Eventbrite shareholders will receive $4.50 per share in an all-cash transaction valued at approximately $500 million. Eventbrite insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Eventbrite by imposing a significant penalty if Eventbrite accepts a competing bid. We are investigating the conduct of the Eventbrite board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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