Presidio, Inc.

Practice Area: 
Stock Symbol: 
PSDO
Case Status: 
Investigations

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

Ademi & O’Reilly, LLP alleges Presidio’s financial outlook is improving and yet shareholders will receive only $16 for each share of Presidio common stock they own.  BC Partners is acquiring Presidio at a substantial discount.  The merger agreement unreasonably limits competing bids for Presidio by prohibiting solicitation of further bids, and imposing a termination penalty if Presidio accepts a superior bid. Presidio insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Presidio’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 Presidio.