Ademi LLP is investigating Vivakor (NASDAQ:VIVK) for possible breaches of fiduciary duty and other violations of law in its transaction with Empire Diversified Energy.
In the transaction, Vivakor would acquire all the outstanding shares of Empire common and preferred stock, on an as-converted basis, for net consideration of 67,200,000 shares of Vivakor common stock, resulting in Empire becoming a wholly-owned subsidiary of Vivakor upon the closing.
We are investigating the conduct of Vivakor’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.