Ademi & Fruchter LLP is investigating Logility (Nasdaq: LGTY) for possible breaches of fiduciary duty and other violations of law in its transaction with Aptean.
In the tender offer transaction, Logility stockholders will receive only $14.30 per share in an all-cash transaction. Logility insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Logility by imposing a significant penalty if Logility accepts a competing bid. We are investigating the conduct of Logility’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.