Brodsky & Smith Investigates Squarespace and Other Firms - Sept 2024
- Brodsky & Smith is investigating potential fiduciary duty breaches by the boards of Squarespace, Northway Financial, and Evans Bancorp.
- The investigations focus on whether the acquisition agreements provide fair value to shareholders.
- The firm encourages affected shareholders to discuss their concerns, emphasizing no financial obligation.
On September 10, 2024, Brodsky & Smith announced investigations into several companies, including Squarespace, Northway Financial, and Evans Bancorp, regarding potential breaches of fiduciary duties by their respective boards. The investigations focus on whether these boards conducted fair processes in their acquisition agreements and if the offered transaction values are fair to shareholders. Squarespace is set to be acquired by Permira for $46.50 per share, raising concerns about the fairness of this valuation. Northway Financial will merge with Camden National Corporation, with shareholders receiving shares based on Camden's stock price, prompting scrutiny over the fairness of the deal. Similarly, Evans Bancorp's acquisition by NBT Bancorp involves an exchange ratio of NBT shares, which is also under investigation for potential fiduciary breaches. Brodsky & Smith, a law firm specializing in shareholder representation, is urging investors to discuss these investigations, emphasizing that there is no financial obligation for those who reach out. The firm aims to ensure that shareholders are treated fairly in these significant corporate transactions, highlighting the importance of due diligence in mergers and acquisitions.