Stock Symbol:
THRN
Case Status:
Investigations
Ademi LLP is investigating Thorne (Nasdaq: THRN) for possible breaches of fiduciary duty and other violations of law in its transaction with L Catterton.
In the transaction, Thorne stockholders are expected to receive only $10.20 per share in cash, or approximately $680 million in the aggregate. The transaction agreement unreasonably limits competing transactions for Thorne by imposing a significant penalty if Thorne accepts a competing bid. Thorne insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Thorne’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.