HomeStreet, Inc.

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Ademi LLP is investigating Homestreet (Nasdaq: HMST)  for possible breaches of fiduciary duty and other violations of law in its transaction with FirstSun.

In the transaction, Homestreet stockholders will receive only 0.4345 of a share of FirstSun common stock for each share of HomeStreet common stock which represents a value of $14.75 per share. The transaction agreement unreasonably limits competing transactions for Homestreet by imposing a significant penalty if Homestreet accepts a competing bid. Homestreet insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Homestreet’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.