Ademi LLP is investigating Whole Earth Brands (Nasdaq: FREE) for possible breaches of fiduciary duty and other violations of law in its transaction with Affiliates of Sababa Holdings.
In the transaction, Whole Earth Brands shareholders will receive only $4.875 per share. The transaction agreement unreasonably limits competing transactions for Whole Earth Brands by imposing a significant penalty if Whole Earth Brands accepts a competing bid. Whole Earth Brands insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Whole Earth Brands’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.