Callaway Golf Company
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CALLAWAY MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF CALLAWAY GOLF COMPANY IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – ELY
October 27, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger between Callaway Golf Company (NYSE: ELY) and Topgolf Entertainment Group (“Topgolf”) is fair to Callaway shareholders.
Under the terms of the merger agreement, Callaway will issue approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which currently holds approximately 14% of Topgolf’s outstanding shares. Upon completion of the merger, Callaway shareholders will own approximately 51.5% and Topgolf shareholders (excluding Callaway) will own approximately 48.5% of the combined company on a fully diluted basis. The transaction is subject to, among other things, the approval of the shareholders of Callaway. The investigation concerns whether Callaway and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders.
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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