Volta Inc.

Stock Symbol: 
VLTA
Case Status: 
Investigations

Ademi LLP is investigating Volta (NYSE: VLTA) for possible breaches of fiduciary duty and other violations of law in its transaction with Shell.

Ademi LLP alleges Volta’s financial outlook and prospects are excellent and yet Volta shareholders will receive only $0.86 per share in an all-cash transaction valued at approximately $169 million. The transaction agreement unreasonably limits competing bids for Volta by imposing a significant penalty if Volta accepts a superior bid. Volta insiders will receive substantial benefits as part of change of control arrangements.