Ademi LLP is investigating MarineMax (NYSE: HZO) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Safe Harbor Marinas.
MarineMax shareholders will receive $53.00 per share in an all-cash transaction valued at approximately $1.5 billion. MarineMax insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for MarineMax by imposing a significant penalty if MarineMax accepts a competing bid. We are investigating the conduct of the MarineMax board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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