Ademi LLP is investigating Patterson (Nasdaq: PDCO) for possible breaches of fiduciary duty and other violations of law in its transaction with Patient Square.
In the transaction, Patterson shareholders will receive $31.35 in cash per share. Patterson insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Patterson by imposing a significant penalty if Patterson accepts a competing bid. We are investigating the conduct of Patterson’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.