Steel Connect, Inc.
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STCN STOCK ALERT: HALPER SADEH LLP IS INVESTIGATING WHETHER THE SALE OF STEEL CONNECT, INC. IS FAIR TO SHAREHOLDERS
June 13, 2022.
New York, New York—Halper Sadeh LLP, an investor rights law firm, is investigating whether the sale of Steel Connect, Inc. (NASDAQ: STCN) to Steel Partners Holdings L.P. is fair to Steel Connect shareholders. Under the terms of the agreement, Steel Connect shareholders would receive $1.35 per share in cash and one contingent value right to receive their pro rata share of net proceeds, to the extent such net proceeds exceed $80 million plus certain related costs and expenses, if Steel Connect’s ModusLink subsidiary is sold during the two-year period following completion of the proposed merger.
The investigation concerns whether Steel Connect and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Steel Connect shareholders; (2) determine whether Steel Partners is underpaying for Steel Connect; and (3) disclose all material information necessary for Steel Connect shareholders to adequately assess and value the merger consideration. On behalf of Steel Connect shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
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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