The Ademi Firm is investigating Quipt (Nasdaq: QIPT) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Kingswood and Forager.
In the transaction, Quipt shareholders will receive $3.65 per share, valuing Quipt at approximately $260 million, including Quipt’s existing outstanding debt. Quipt insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Quipt by imposing a significant penalty if Quipt accepts a competing bid. We are investigating the conduct of the Quipt board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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