Bitauto Holdings Limited
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BITAUTO MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF BITAUTO HOLDINGS LIMITED IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM
June 12, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Bitauto Holdings Limited (NYSE: BITA) to a consortium led by Morespark Limited, an affiliate of Tencent Holdings Limited and Hammer Capital Opportunities Fund L.P. (collectively, the “Consortium”) for $16.00 per share in cash is fair to Bitauto shareholders. On behalf of Bitauto shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
The investigation concerns whether Bitauto and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for Bitauto shareholders; (2) determine whether the Consortium is underpaying for Bitauto; and (3) disclose all material information necessary for Bitauto shareholders to adequately assess and value the proposed transaction.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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