Breaking News: Is Snap One's $10.75 Per Share Sale Price a Fair Deal? Johnson Fistel, LLP Investigates Deal Terms
SAN DIEGO, April 15, 2024 (GLOBE NEWSWIRE) -- SAN DIEGO, CA, - Johnson Fistel, LLP, a leading stockholder rights law firm, announced today that it has initiated an investigation into the board members of Snap One Holdings Corp. (NASDAQ: SNPO) ("Snap One") concerning potential breaches of fiduciary duties related to the proposed sale of the Company to Resideo Technologies (NYSE:REZI).
On April 15, 2024, Snap One Holdings Corp. publicized a definitive acquisition agreement with Resideo Technologies Inc., wherein Snap One's shareholders will receive a consideration of $10.75 per share, payable in cash, upon the successful completion of the transaction.
Considering this, the law firm Johnson Fistel, LLP, has initiated an extensive investigation into the transaction. The primary objective of this inquiry is to confirm that Snap One's board of directors has acted in accordance with their fiduciary obligations to the shareholders. The investigation intends to determine whether the board has adequately explored alternative strategies to the acquisition, as well as if they have secured the highest possible value for Snap One's shares in the agreement.
The relevance of this investigation is underscored by the forward-looking estimates of analysts for the company's earnings and revenue growth. It is important to highlight that a few years prior, Snap One's shares traded at a substantially higher price, exceeding $20.00 per share. Consequently, the present all-cash offer price may necessitate additional review to ascertain that the shareholders' best interests were taken into account and safeguarded during the negotiation process.
Stockholders of Snap One are encouraged to contact Johnson Fistel to discuss their legal rights in this matter.* You can click or copy and paste the following link to join this investigation:*
https://www.cognitoforms.com/JohnsonFistel/SnapOneHoldingsCorp
*About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:*
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Johnson Fistel, LLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.
*Contact: *
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com