1. Ademi Firm investigates Foot Locker for potential fiduciary duty breaches. 2. Foot Locker shareholders to receive $24 cash or 0.1168 shares of DICK’S. 3. Transaction imposes penalties on competing offers for Foot Locker. 4. Insiders benefit significantly from change of control arrangements.
The investigation suggests potential legal issues and governance deficiencies, affecting investor confidence.
The article raises significant red flags about governance that can directly harm stock value.
Immediate concerns over fiduciary duties could lead to stock price fluctuations or volatility.
MILWAUKEE--(BUSINESS WIRE)-- The Ademi Firm is investigating Foot Locker (NYSE: FL) for possible breaches of fiduciary duty and other violations of law in its transaction with DICK’S Sporting Goods.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, shareholders of Foot Locker will receive either (i) $24.00 in cash or (ii) 0.1168 shares of DICK’S Sporting Goods common stock for each share of Foot Locker common stock. Foot Locker insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Foot Locker by imposing a significant penalty if Foot Locker accepts a competing bid. We are investigating the conduct of the Foot Locker board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.