Ademi LLP is investigating Perspecta (NYSE: PRSP) for possible breaches of fiduciary duty and other violations of law in its transaction with Vertias.
Ademi LLP alleges Perspecta’s financial outlook is improving and yet Perspecta shareholders will receive only $29.35 for each Perspecta share they own. The merger agreement unreasonably limits competing bids for Perspecta by prohibiting solicitation of further bids, and imposing a termination penalty if Perspecta accepts a superior bid. Perspecta insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Perspecta’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 Perspecta.