Ademi LLP is investigating Veris (NYSE: VRE) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Affinius Capital.
In the transaction, Veris stockholders will receive $19.00 per share in cash, representing an implied enterprise value of $3.4 billion. Veris insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Veris by imposing a significant penalty if Veris accepts a competing bid. We are investigating the conduct of the Veris board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
Join this Action