NEW YORK, Dec. 14, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ZAGG Inc ("ZAGG" or the "Company") (NASDAQ: ZAGG) in connection with the proposed acquisition of the Company by a buyer group led by Evercel, Inc. Under the terms of the acquisition agreement, the Company's shareholders will only receive $4.20 per share in cash for each share of ZAGG common stock that they hold. Additionally, ZAGG shareholders will be entitled to receive a contingent amount of up to $0.25 per share, to be paid if the Company's Paycheck Protection Program Loan is forgiven and any audit related thereto is satisfactorily completed.
If you own ZAGG 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 (i) ZAGG's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates ZAGG's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, the Company's 52-week high trading price was $9.01, nearly $5.00 more than the proposed merger consideration.
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]