Verso Corporation

Practice Area: 
Stock Symbol: 
VRS
Case Status: 
Investigations

 

Ademi LLP is investigating Verso (Nasdaq: VRS) for possible breaches of fiduciary duty and other violations of law in its transaction with BillerudKorsnäs.

Ademi LLP alleges Verso’s financial outlook and prospects are excellent and yet Verso shareholders will receive only $27 per share in cash, or approximately $825 million. The merger agreement unreasonably limits competing bids for Verso by prohibiting solicitation of further bids, and imposing a significant penalty if Verso accepts a superior bid. Verso insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Verso’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Verso.

 

 


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