MILWAUKEE, Nov. 17, 2022 /PRNewswire/ -- Ademi LLP is investigating Elevate ELVT for possible breaches of fiduciary duty and other violations of law in its transaction with Park Cities.
Click here to learn how to join the action https://www.ademilaw.com/case/elevate-credit-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Elevate's financial outlook and prospects are excellent and yet Elevate holders will receive only $1.87 per share in an all-cash transaction at an implied value of $67 million. The transaction agreement also allows 7% of shares and shares underlying equity awards held by certain members of Elevate management to rollover into equity affiliated with Park Cities. The transaction agreement unreasonably limits competing bids for Elevate by imposing a significant penalty if Elevate accepts a superior bid. Elevate insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Elevate'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 Elevate.
If you own Elevate common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/elevate-credit-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
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SOURCE Ademi LLP
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