Ademi LLP is investigating SPAR (NASDAQ: SGRP) for possible breaches of fiduciary duty and other violations of law in its transaction with Highwire.
SPAR stockholders will receive only $2.50 per share in cash. The transaction agreement unreasonably limits competing transactions for SPAR by imposing a significant penalty if SPAR accepts a competing bid. SPAR insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of SPAR’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.