BRCC INVESTIGATION ALERT: Hittelman Strunk Announces Investigation into BRC Inc. (BRCC, BRCC-WT) f/k/a SilverBox Engaged Merger Corp I Investors and Encourages Investors with Losses to Inquire About Securities Class Action Investigation
04 May, 2022, 05:30 ET
NEWPORT, Calif., May 4, 2022 /PRNewswire/ --
Hittelman Strunk, a securities firm, announces an investigation of potential securities fraud claims on behalf of shareholders of BRC Inc., f/k/a SilverBox Engaged Merger Corp I (NYSE: BRCC, BRCC-WT) resulting from allegations that BRC Inc. breached their fiduciary duties by prioritizing their own interests when they announced redemption of all outstanding public warrants before properly disclosing the effects of shareholder dilution. People at the company claim that timely public disclosure is not the responsibility of BRC Inc.
If you purchased BRC Inc. securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. Hittelman Strunk is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT:
To join the prospective class action, go to https://www.hittelmanstrunk.com/brcc.
WHAT IS THIS ABOUT:
- On March 30, 2022, the SEC proposed extensive new SPAC rules that require enhanced and timely dilution disclosure.
- On April 4, 2022, BRC Inc. announced Redemption of all outstanding warrants
- On April 19, 2022, BRC Inc. filed an amendment to their public disclosure regarding their redemption announcement.
- From April 4, 2022, to April 19, 2022, BRC's stock price fell $10.60 per share, or
-34.48%, to close at $17.68 per share on April 19, 2022, causing significant harm to investors.
- As of May 2, 2022, BRC's stock price closed at $13.70; down approximately 60% from its April 11, 2022 closing price of $33.11.
WHY HITTELMAN STRUNK:
We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience and resources. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. Hittelman Strunk represents investors and concentrates its practice in getting justice for investors.
Hittelman Strunk LLP
SOURCE Hittelman Strunk
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