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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Adams Golf, Inc. (MM) | NASDAQ:ADGF | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.78 | 0 | 01:00:00 |
The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Adams Golf, Inc. (“Adams Golf”) (NASDAQ: ADGF) and other violations of state law by the board of directors of Adams Golf relating to the proposed acquisition of the company by Adidas Group (“Adidas”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On March 19, 2012, Adidas and Adams Golf announced that they had entered into a definitive agreement providing for Adidas to acquire Adams Golf for $70 million. Under the terms of the merger agreement, Adams Golf shareholders will receive $10.80 for each share of Adams Golf common stock held. According to Bloomberg, the EBIT, EBITDA, Revenue, and Net Income multiples for the proposed buyout transaction are lower than the median multiples for comparable transactions. Insiders including Chairman and CEO B.H. Barney Adams, Director John M. Gregory, Director Joseph R. Gregory, Director Russell L. Fleischer, Director Mark R. Mulvoy, Director Robert D. Rogers, and SJ Strategic Investments LLC, who collectively own approximately 35% of Adams Golf’s outstanding shares, have agreed to vote their shares in favor of the transaction.
If you currently own shares of Adams Golf and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
1 Year Adams Golf, Inc. (MM) Chart |
1 Month Adams Golf, Inc. (MM) Chart |
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