Ademi LLP is investigating Harte Hanks (NASDAQ: HHS) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Star Equity.
Harte Hanks shareholders will receive $5.00 per share, representing an aggregate equity value of $38.4 million.
Harte Hanks insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Harte Hanks by imposing a significant penalty if Harte Hanks accepts a competing bid. We are investigating the conduct of the Harte Hanks board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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