NEW YORK, Aug. 26, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Trine Acquisition Corp. ("TRNE" or the "Company") (NYSE: TRNE) in connection with the Company's proposed merger with privately-held mass production and turnkey additive manufacturing solutions company Desktop Metal, Inc. ("Desktop Metal"). Under the terms of the merger agreement, TRNE will acquire Desktop Metal through a reverse merger that will result in Desktop Metal becoming a publicly-listed company. The deal has a pro forma equity value of approximately $2.5 billion. At closing, current TRNE shareholders (other than the founder) and new PIPE investors will own a meager 33% of the combined company, leaving the majority stake to Desktop Metal's existing shareholders.
If you own TRNE shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact: Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether TRNE's board acted in the best interest of TRNE's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Desktop Metal, whether the deal's equity split is fair to TRNE shareholders, and whether all information regarding the valuation of the transaction will be fully and fairly disclosed to TRNE public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]