The inquiry centers on whether Priore, who currently holds approximately 56.54% of the company's outstanding stock, has fulfilled his fiduciary obligations to minority shareholders. While a special committee of the board approved the deal, legal experts are questioning if the negotiation process provided sufficient safeguards for those outside the controlling interest. BFA Law is now evaluating the terms to determine if the $8.05 cash offer accurately reflects the firm's true market value.
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BFA Law Scrutinizes Priority Technology Take-Private Deal
Shareholders of Priority Technology Holdings are facing a potential buyout as CEO Thomas Priore moves to take the company private at $8.05 per share. Following the September 21 announcement, securities law firm Bleichmar Fonti & Auld LLP has launched an investigation into the fairness of the proposed transaction.
Investors holding PRTH stock are being encouraged to review their legal standing regarding the merger. The law firm is operating on a contingency basis, meaning participants face no upfront litigation costs or expenses. The investigation follows a string of high-profile cases handled by the firm, including significant recoveries involving Tesla and Teva Pharmaceutical.
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