Condor

Practice Area: 
Stock Symbol: 
CDOR
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating Condor (Nasdaq: CDOR) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Condor to NextPoint.

Ademi & O’Reilly, LLP alleges Condor’s financial outlook is improving and yet shareholders will receive the equivalent of only $11.10 per share for each share of Condor common stock they own.  NextPoint is acquiring Condor at a substantial discount.  The merger agreement unreasonably limits competing bids for Condor by prohibiting solicitation of further bids, and imposing a termination penalty if Condor accepts a superior bid. Condor insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Condor’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Condor.