Stock Symbol:
SCX
Case Status:
Investigations
Ademi LLP is investigating Starrett (NYSE: SCX) for possible breaches of fiduciary duty and other violations of law in its transaction with MiddleGround.
In the transaction, Starrett shareholders will receive only $16.19 per share. The transaction agreement unreasonably limits competing transactions for Starrett by imposing a significant penalty if Starrett accepts a competing bid. Starrett insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Starrett’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.