NTN Buzztime, Inc.
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NTN BUZZTIME MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF NTN BUZZTIME, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – NTN
August 14, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger between NTN Buzztime, Inc. (NYSE: NTN) and Brooklyn ImmunoTherapeutics LLC is fair to NTN Buzztime shareholders. The investigation concerns whether NTN Buzztime and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders in connection with the proposed merger.
On August 13, 2020, NTN Buzztime and Brooklyn announced that the companies have entered into a definitive merger agreement in an all-stock transaction. Under the merger agreement, immediately following the closing of the merger, the members of Brooklyn collectively will own 94.08% of the outstanding common stock of the combined company and NTN Buzztime stockholders immediately prior to the closing of the merger collectively will own 5.92% of the outstanding common stock of the combined company, which percentages are subject to adjustment based on Brooklyn’s cash and cash equivalents and NTN Buzztime’s net cash balance at the closing, as set forth in the merger agreement.
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