August 30, 2022 13:03 ET |
Source: Brodsky & Smith LLC
BALA CYNWYD, Pa., Aug. 30, 2022 (GLOBE NEWSWIRE) — Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of The Valens Company Inc. (“Valens” or the “Company”) (Nasdaq – VLNS) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by SNDL Inc. (“SNDL”) (Nasdaq – SNDL). Under the terms of the Agreement, Valens’ shareholders will receive, for each Valens Share, 0.3334 of a common share of SNDL. Based on the August 19, 2022 close of the SNDL shares, the consideration represents an implied value of $1.26 per Valens Share, for total consideration of approximately $138 million.
The investigation concerns whether the Valens Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether SNDL is paying too little for the Company. For example, the deal consideration is below the 52-week high of $3.44 for the Company’s stock.
If you own shares of Valens stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/valens-company-inc-nasdaq-vlns/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.