Halper Sadeh LLC, an investor rights law firm, announced an investigation into whether the sale of Emeren Group Ltd. (NYSE: SOL) to Shurya Vitra Ltd. for $0.20 in cash per ordinary share, or $2.00 in cash per American Depositary Share, is fair to Emeren shareholders.
The investigation concerns whether Emeren and its board of directors violated federal securities laws and/or breached their fiduciary duties. Specific concerns include failing to obtain the best possible consideration for shareholders, determining if Shurya is underpaying, and disclosing all material information necessary to assess the merger consideration.
On behalf of Emeren shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures, or other relief and benefits. This investigation introduces a potential legal challenge to the terms of the definitive merger agreement.
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