The Ademi Firm is investigating FARO (Nasdaq: FARO) for possible breaches of fiduciary duty and other violations of law in its transaction with AMETEK.
In the transaction, shareholders of FARO will receive only $44 per share in cash, which represents an enterprise value of approximately $920 million.
FARO insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for FARO by imposing a significant penalty if FARO accepts a competing bid. We are investigating the conduct of the FARO board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.