We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of IKONICS (“IKONICS” or the “Company”) (NASDAQ: IKNX) in connection with the proposed acquisition of the Company by TeraWulf Inc. (“TeraWulf”), a privately held bitcoin mining company. Under the terms of the merger agreement, IKONICS shareholders will receive $5.00 in cash, one contingent value right (“CVR”), and one share of the combined company's common stock. Through the CVRs, which will not be publicly traded, the IKONICS shareholders will be entitled to receive 95% of the net proceeds from any sale of IKONICS's legacy business completed during the 18 months following the closing of the business combination, and will expire at the end of such 18 month period with respect to any portion of IKONICS's legacy business which has not been sold. The shares of the combined company's common stock to be received by the IKONICS shareholders will collectively represent 2%of the combined company's pro forma common equity ownership. Upon completion of the transaction, it is expected that TeraWulf will become a NASDAQ- listed company.
WeissLaw LLP is investigating whether IKONICS’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, whether the merger consideration and proposed equity split are fair to IKONICS shareholders, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
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@example.com
September 17, 2021
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Great Western Bancorp, Inc. (“Great Western” or the “Company”) (NYSE:GWB) in connection with the proposed acquisition of the Company by First Interstate BancSystem, Inc. (“First Interstate”) (NASDAQ: FIBK). Under the terms of the merger agreement, Great Western shareholders will receive .8425 shares of First Interstate stock for each Great Western share they own, representing implied per-share merger consideration of approximately $33.00 based upon First Interstate’s September 16, 2021 closing price of $39.17.
September 15, 2021
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of GreenSky, Inc. (“GreenSky” or the “Company”) (NASDAQ: GSKY) in connection with the proposed acquisition of the Company by The Goldman Sachs Group, Inc. (“Goldman Sachs”) (NYSE: GS). Under the terms of the merger agreement, GreenSky shareholders will receive 0.03 shares of Goldman Sachs stock for each GreenSky share they own, representing implied per-share merger consideration of approximately $12.11 based upon Goldman Sachs’s September 14, 2021 closing price of $403.69.
September 10, 2021
WeissLaw LLP, a nationally acclaimed investor rights law firm, reminds investors that on August 10, 2021, the firm commenced a class action lawsuit against Coinbase Global Inc. ("Coinbase" or the "Company") (NASDAQ: COIN) and certain of its senior officers, directors and affiliated entities on behalf of investors who purchased or acquired Coinbase common stock pursuant and /or traceable to the Company's April 14, 2021 initial public offering (the “IPO”). The lawsuit filed in the United States District Court for the Northern District of California alleges violations of the Securities Act of 1933. The deadline to serve as lead plaintiff is September 20, 2021.