Ademi LLP is investigating Altair (Nasdaq: ALTR) for possible breaches of fiduciary duty and other violations of law in its transaction with Siemens.
In the transaction, stockholders of Altair will receive only $113.00 per share, representing an equity value of approximately $10.6 billion. The transaction agreement unreasonably limits competing transactions for Altair by imposing a significant penalty if Altair accepts a competing bid. Altair insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Altair’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.