The Milwaukee-based firm is scrutinizing the board’s negotiation process and the potential impact of restrictive clauses that may deter superior counteroffers. Under the current agreement with Starman Optical, GoPro shareholders would retain roughly 10% of outstanding shares, though the $1.14 valuation remains subject to adjustments tied to net working capital at the time of closing.
In section Releases
Ademi LLP Scrutinizes GoPro Buyout Terms
A $285 million acquisition deal valuing GoPro at $1.14 per share has triggered a formal investigation by Ademi LLP. The law firm is examining whether the proposed price offers adequate compensation to public shareholders or if the transaction primarily serves the interests of company insiders at the expense of outside investors.
Attorneys are specifically questioning the fairness of the deal, citing concerns over significant change-of-control benefits for executives and the presence of substantial termination penalties. Investors are being encouraged to come forward to discuss their rights as the firm evaluates whether the board fulfilled its fiduciary duties throughout the approval process.
Comments (0)
No comments yet. Be the first!