MILWAUKEE--(BUSINESS WIRE)--Ademi LLP is investigating Sandy Spring (Nasdaq: SASR) for possible breaches of fiduciary duty and other violations of law in its transaction with Atlantic Union.
Click here to learn how to join our investigation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Sandy Spring common stock will be converted into the right to receive 0.900 shares of Atlantic Union common stock or approximately $34.93 per of Sandy Spring common stock, based on Atlantic Union’s closing stock price on October 18, 2024, in an all-stock transaction valued at approximately $1.6 billion.
The transaction agreement unreasonably limits competing transactions for Sandy Spring by imposing a significant penalty if Sandy Spring accepts a competing bid. Sandy Spring insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Sandy Springs’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Sandy Spring common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or here.
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.
