Ademi LLP is investigating SEACOR Holdings Inc. (NYSE:CKH) for possible breaches of fiduciary duty and other violations of the law in its transaction with AIP.
Ademi LLP alleges SEACOR’s financial outlook is improving and yet shareholders will receive only $41.50 per share. The merger agreement unreasonably limits competing bids for SEACOR by prohibiting solicitation of further bids, and imposing a termination penalty if SEACOR accepts a superior bid. SEACOR insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of SEACOR’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 SEACOR.