The Ademi Firm is investigating Guaranty (OTC: GUAA) for possible breaches of fiduciary duty and other violations of law in its transaction with Bar Harbor.
In the transaction, Guaranty shareholders will receive only 1.85 shares of Bar Harbor common stock for each of their shares, or approximately $56.94 per share. Guaranty insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Guaranty by imposing a significant penalty if Guaranty accepts a competing bid. We are investigating the conduct of the Guaranty board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.