MILWAUKEE, April 8, 2021 /PRNewswire/ -- Ademi LLP is investigating ORBCOMM (NASDAQ: ORBC) for possible breaches of fiduciary duty and other violations of law in its transaction with GI Partners.
Click here to learn how to join the action: https://www.ademilaw.com/case/orbcomm-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges ORBCOMM's financial outlook is excellent and yet ORBCOMM shareholders will receive only $11.50 in cash per outstanding share of common stock. The merger agreement unreasonably limits competing bids for ORBCOMM by prohibiting solicitation of further bids, and imposing a termination penalty if ORBCOMM accepts a superior bid. ORBCOMM insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of ORBCOMM's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for ORBCOMM.
If you own ORBCOMM common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/orbcomm-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP