BALA CYNWYD, Pa., Aug. 27, 2024 (GLOBE NEWSWIRE) — Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
CrossFirst Bankshares, Inc. (Nasdaq – CFB)
Under the terms of the agreement, CrossFirst will be acquired by First Busey Corporation (“Busey”) (Nasdaq – BUSE). CrossFirst shareholders will receive 0.6675 shares of Busey common stock for each share held of CrossFirst common stock. Upon completion of the transaction, Busey’s shareholders will own approximately 63.5% of the combined company and CrossFirst’s shareholders will own approximately 36.5% of the combined company, on a fully-diluted basis, which will continue to trade on the Nasdaq under the “BUSE” stock ticker symbol. The investigation concerns whether CrossFirst Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Busey is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/crossfirst-bankshares-inc-nasdaq-cfb/.
Arch Resources, Inc. (NYSE – ARCH)
Under the terms of the Merger Agreement, Arch will be acquired by CONSOL Energy Inc. (“CONSOL”) (NYSE – CEIX). Arch stockholders will receive a fixed exchange ratio of 1.326 shares of CONSOL common stock for each share of Arch common stock owned. Upon closing of the transaction, Arch stockholders will own approximately 45% of Core Natural Resources, and CONSOL stockholders will own approximately 55% on a fully diluted basis. The investigation concerns whether Arch Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether CONSOL is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/arch-resources-inc-nyse-arch/.
Cyclo Therapeutics, Inc. (Nasdaq – CYTH)
Under the terms of the agreement, Cyclo will be acquired by Rafael Holdings, Inc. (NYSE – RFL). On consummation of the merger, Rafael Holdings will issue shares of its Class B common stock to Cyclo shareholders, based on an exchange ratio valuing Cyclo shares at $.95 per share and Rafael Holdings at its cash value combined with the value of its marketable securities and certain other investments less certain current liabilities. The investigation concerns whether Cyclo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Rafael Holdings is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $2.12 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/cyclo-therapeutics-inc-nasdaq-cyth/.
Vector Group Ltd. (NYSE – VGR)
Under the terms of the agreement, Vector Group will be acquired by JT Group for $15.00 per share in cash at closing, an equity value of approximately $2.4 billion. The investigation concerns whether Vector Group Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether JT Group is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/vector-group-ltd-nyse-vgr/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
