BALA CYNWYD, Pa., Dec. 20, 2024 (GLOBE NEWSWIRE) — Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ([email protected]) or Marc Ackerman ([email protected]) at 855-576-4847. There is no cost or financial obligation to you.
VOXX International Corporation (Nasdaq – VOXX)
Under the terms of the Merger Agreement, VOXX will be acquired by Gentex Corporation (Nasdaq – GNTX) for $7.50 per share in cash. The investigation concerns whether the VOXX Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Gentex is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/voxx-international-corporation-nasdaq-voxx/.
Penns Woods Bancorp, Inc. (Nasdaq – PWOD)
Under the terms of the agreement, Penns Woods will merge with Northwest Bancshares, Inc. (“Northwest”) (Nasdaq – NWBI). Northwest will acquire Penns Woods in an all-stock transaction. Penns Woods shareholders will be entitled to receive 2.385 shares of Northwest common stock for each share of Penns Woods common stock they own upon the effective time of the merger. Based on Northwest’s closing stock price of $14.44 as of December 16, 2024, the transaction consideration is valued at $34.44 for each share of Penns Woods. The investigation concerns whether the Penns Woods Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal offers fair value to the Company’s shareholders.
Additional information can be found at https://www.brodskysmith.com/cases/penns-woods-bancorp-inc-nasdaq-pwod/.
Staffing 360 Solutions, Inc. (Nasdaq – STAF)
Under the terms of the agreement, Staffing 360 will be acquired by Atlantic International Corp. (“Atlantic”) (OTC – ATLN). Staffing 360 shareholders will receive 1.202 Atlantic shares for each Staffing 360 share. Atlantic and Staffing 360 shareholders will own approximately 90% and 10%, respectively, of the combined company on a fully diluted basis. The investigation concerns whether the Staffing 360 Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of the Company’s shareholders in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/staffing-360-solutions-inc-nasdaq-staf/.
Adams Resources & Energy, Inc. (NYSE American – AE)
Under the terms of the agreement, Adams will be acquired by an affiliate of Tres Energy LLC (“Tres Energy”). Adams stockholders will receive $38.00 per share in cash in a deal with an enterprise value of $138.9 million. The investigation concerns whether the Adams Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Tres Energy is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/adams-resources-energy-inc-nyse-american-ae/.
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