Ademi LLP is investigating ATSG (NASDAQ: ATSG) for possible breaches of fiduciary duty and other violations of law in its transaction with Stonepeak.
Under the agreement, stockholders of ATSG will receive only $22.50 per share, with an enterprise valuation of approximately $3.1 billion. The transaction agreement unreasonably limits competing transactions for ATSG by imposing a significant penalty if ATSG accepts a competing bid. ATSG insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of ATSG’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.