The Ademi Firm is investigating TaskUs (NASDAQ: TASK) for possible breaches of fiduciary duty and other violations of law in its transaction with Blackstone, TaskUs Co-Founder and Chief Executive Officer Bryce Maddock and TaskUs Co-Founder and President Jaspar Weir.
In the transaction, shareholders of TaskUs will receive only $16.50 per share in an all-cash transaction. TaskUs insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for TaskUs by imposing a significant penalty if TaskUs accepts a competing bid. We are investigating the conduct of the TaskUs board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.