Ademi LLP is investigating NSTS (NASDAQ: NSTS) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Brookfield Bancshares.
NSTS stockholders will receive approximately $14.28 for each share of common stock in an all-cash transaction valued at approximately $73.7 million. NSTS insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for NSTS by imposing a significant penalty if NSTS accepts a competing bid. We are investigating the conduct of the NSTS board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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