Ademi LLP is investigating Quotient (NYSE: QUOT) for possible breaches of fiduciary duty and other violations of law in its transaction with Neptune.
In the transaction, Quotient shareholders will receive only $4.00 per share, with an aggregate equity value of approximately $430 million. The transaction agreement unreasonably limits competing bids for Quotient by imposing a significant penalty if Quotient accepts a superior bid. Quotient insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Quotient’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Quotient.