Ademi LLP is investigating EMCORE (Nasdaq: EMKR) for possible breaches of fiduciary duty and other violations of law in its transaction with Velocity One.
In the transaction, stockholders of EMCORE stockholders will receive only $3.10 per share in cash. The transaction agreement unreasonably limits competing transactions for EMCORE by imposing a significant penalty if EMCORE accepts a competing bid. EMCORE insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of EMCORE’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.