Ademi LLP is investigating Mars (OTCQX: MNBP) for possible breaches of fiduciary duty and other violations of law in its transaction with NexTier.
In the transaction, Mars stockholders are expected to receive only $20.00 for each share of Mars common stock owned.
The transaction agreement unreasonably limits competing transactions for Mars by imposing a significant penalty if Mars accepts a competing bid. Mars insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Mars’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.