The Ademi Firm is investigating Forge (NYSE: FRGE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Charles Schwab.
In the transaction, Forge shareholders will receive $45 per share for all of Forge’s outstanding common stock in a transaction valued at approximately $660 million. Forge insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Forge by imposing a significant penalty if Forge accepts a competing bid. We are investigating the conduct of the Forge board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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