BALA CYNWYD, Pa., March 14, 2022 (GLOBE NEWSWIRE) — Brodsky & Smith reminds investors of the following investigations. If you own stock and would like to discuss the investigation, contact Jason Brodsky ([email protected]) or Marc Ackerman ([email protected]) at 855-576-4847. There is no cost or financial obligation for you.
Volt Information Sciences, Inc (US NYSE – VOLT)
Under the terms of the agreement, Volt will be acquired by Vega Consulting, Inc. (“Vega”), a subsidiary of ACS Solutions. Volt shareholders will receive $60.00 in cash for each Volt share held. The investigation focuses on whether Volt’s board breached its fiduciary duties to shareholders by failing to conduct due process, including whether Vega is paying too little for the company.
Additional information is available at https://www.brodskysmith.com/cases/volt-information-sciences-inc-nyse-american-volt/.
Whiting Petroleum Corporation (NYSE – WLL)
Under the terms of the agreement, Whiting shareholders will receive 0.5774 Oasis shares plus $6.25 in cash for each share held by Whiting, representing implied merger consideration of approximately $91.53 per share. Upon completion of the transaction, Whiting shareholders will own approximately 53% of the combined company, while Oasis shareholders will own 47% of the combined company. In addition, as part of the closing of the transaction, Oasis shareholders will receive a special dividend of $15.00 per share. The transaction is valued at approximately $6 billion. The investigation focuses on whether Whiting’s board breached its fiduciary duties to shareholders by failing to conduct due process, including diluting shares of the merged company.
Additional information is available at https://www.brodskysmith.com/cases/whiting-petroleum-corporation-nyse-wll/.
Intricon Corporation (Nasdaq – IIN)
Under the terms of the agreement, Intricon will be acquired by a subsidiary of Altaris Capital Partners, LLC (collectively with its subsidiaries, “Altaris”). Intricon shareholders will receive $24.25 in cash for each Intricon share they hold. The investigation focuses on whether Intricon’s board breached its fiduciary duties to shareholders by failing to conduct due process, and whether Altaris is paying too little for the company. For example, the trade consideration is below the 52-week high of $28.16 for the company’s stock.
Additional information is available at https://www.brodskysmith.com/cases/intricon-corporation-nasdaq-iin/.
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