RADI Alert: Monsey Firm of Wohl & Fruchter LLP Continues Investigation of Sale of Radius Global Infrastructure After Filing of Preliminary Proxy
MONSEY, N.Y., April 24, 2023 (GLOBE NEWSWIRE) -- After the filing of a preliminary proxy, the law firm of Wohl & Fruchter LLP continues to investigate the fairness of the price of $15.00 per share in cash at which Radius Global Infrastructure, Inc. (NASDAQ:RADI) ("Radius") has agreed to be sold to EQT and the Public Sector Pension Investment Board.
If you remain a Radius shareholder and question the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/radius-global-infrastructure/
Alternatively, you may contact us by phone at 866-833-6245, or via email at [email protected].
Why is there an investigation?
On March 1, 2023, after the market closed, Radius announced that it had agreed to be sold to EQT and PSPIB for $15.00 per share in cash. The proposed sale has been approved by the Radius board of directors ("Board").
On April 6, 2023, Radius filed a preliminary proxy ("Proxy") with the Securities and Exchange Commission concerning the proposed sale.
"In our view, the Proxy raises a number of concerns regarding the fairness of the process followed by the Board to negotiate the sale," explained Joshua Fruchter, a founding partner of Wohl & Fruchter. "This includes authorization granted to company management in early August 2022 to speak with representatives of EQT and another bidder concerning post-transaction employment and equity rollovers before the material terms of a transaction had been agreed upon."
The Proxy also discloses that the Board formed a Transaction Committee to, among other things, negotiate a sale of Radius, but does not identify all of its members, which prevents analysis of their independence and disinterestedness. Additionally, from the narrative in the Proxy it appears that, notwithstanding the formation of the Transaction Committee, the full Board and its financial advisors primarily led the negotiations with EQT and other bidders.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
[email protected]
www.wohlfruchter.com
