May 17, 2023 | Blog, Shareholder Investigations
Investors of Diversified Healthcare Trust Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating the fairness of the proposed acquisition of Diversified Healthcare Trust (“Diversified Healthcare,” “DHC”) (NASDAQ: DHC) by Office Properties Income Trust (“OPI”).
The RMR Group LLC manages both DHC and OPI. Pursuant to the terms of the merger agreement, Diversified Healthcare stockholders will receive 0.147 shares of OPI stock for each common DHC share.
Based on OPI’s closing price on May 15, 2023 of $6.04 per share, the transaction only values DHC’s common stock at $0.88788 per share. In contrast, on March 13, 2023, DHC’s stock closed at $1.47 per share, and its 52-week high is $2.37 per share (over two and a half times the transaction price).
INVESTORS OF DIVERSIFIED HEALTHCARE ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR DHC STOCK.
SHAREHOLDERS OF DIVERSIFIED HEALTHCARE STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
May 16, 2023 | Blog, Shareholder Investigations
Investors of Sanmina Corporation Stock With Losses of $100,000 or More Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM).
INVESTORS OF SANMINA STOCK WHO HAVE SUFFERED LOSSES OF $100,000 OR MORE ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR SANMINA STOCK.
Sanmina recently reported that “. . . the Company determined that certain personnel in a division within the Company’s Components, Products and Services business had failed to properly substantiate and update cost estimates for materials and other costs over the life of certain contracts.”
Sanmina also reported that “[a]s a result, the Company conducted an independent investigation under the direction of the Audit Committee of the Company’s Board of Directors . . .. Primarily due to the findings of the independent investigation, revenue was over/(understated) by approximately $10.2 million, $18.3 million, ($29.1 million), and $5.6 million, and GAAP earnings per share was over/(understated) by approximately $0.09, $0.29, $0.25, and ($0.06) in the fiscal years ended October 3, 2020, October 2, 2021 and October 1, 2022, and the first fiscal quarter ended December 31, 2022, respectively . . ..”
SHAREHOLDERS OF SANMINA STOCK WITH SIGNIFICANT FINANCIAL LOSSES ARE ALSO ENCOURAGED TO CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
May 16, 2023 | Blog, Shareholder Investigations
Investors of Home Point Capital Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating the fairness of the proposed acquisition of Home Point Capital Inc. (“Home Point”) (NASDAQ: HMPT) by Mr. Cooper Group Inc. for $2.33 per share in cash announced on May 10, 2023.
CURRENT INVESTORS OF HOME POINT STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR HMPT STOCK.
Home Point is controlled by Stone Point Capital, which owns over 90% of Home Point’s stock. The transaction price is below Home Point’s closing price of $2.55 per share on March 13, 2023, and well below its 52-week high of $4.65 per share.
CURRENT SHAREHOLDERS OF HOME POINT STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
May 8, 2023 | Blog, Shareholder Investigations
Shareholders of Berkshire Grey Who Owned Revolution Acceleration Acquisition Corp Stock Are Encouraged to Contact Kehoe Law Firm, P.C. – Breach of Fiduciary Duties Investigation
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Revolution Acceleration Acquisition Corp (“RAAC”) (NASDAQ: RAAC), now known as Berkshire Grey, Inc. (“Berkshire Grey”) (NASDAQ: BGRY), breached their fiduciary duties to RAAC’s shareholders.
The investigation concerns whether RAAC’s board of directors or executive officers breached their duties or acted in bad faith in connection with RAAC’s July 2021 merger with Berkshire Grey.
On July 20, 2021, RAAC shareholders of record, as of June 17, 2021, approved a merger between RAAC and Berkshire Grey. Prior to the shareholder vote, RAAC advised its stockholders that Berkshire Grey had a “$1.7 billion pipeline,” was “asset light with significant potential and re-occurring revenue streams,” and was “fully funded to cash flow profitability in 2024.”
The transaction valued Berkshire Grey at $2.7 billion. Less than two years later, in March 2023, Berkshire Grey announced that SoftBank Group Corp. (“SoftBank”) would be acquiring the shares of Berkshire Grey that it does not already own for a price of $1.40 per share—suggesting a valuation of only $375 million.
In addition to this steep decline in valuation, the merger proxy statement for this new transaction suggests that Berkshire Grey was significantly underfunded and incapable of achieving the overstated projections that RAAC stockholders received in advance of the 2021 RAAC-Berkshire Grey merger. Further, the new Berkshire Grey projections seem much different from those in the RAAC-Berkshire Grey merger proxy statement, with revenues and cash flows being heavily cut both near-term and long-term.
BERKSHIRE GREY SHAREHOLDERS WHO HELD REVOLUTION ACCELERATION ACQUISITION CORP STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR RAAC STOCK.
INVESTORS OF BERKSHIRE GREY WHO HELD RAAC STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
May 3, 2023 | Blog, Shareholder Investigations
Current Investors Of Comcast Stock Are Encouraged to Contact Kehoe Law Firm, P.C. – Breach of Fiduciary Duties Investigation
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Comcast Corporation (“Comcast”) (NASDAQ: CMCSA) breached their fiduciary duties to Comcast and its shareholders.
The investigation concerns whether members of Comcast’s board of directors or senior management failed to manage Comcast in an acceptable manner, in breach of their fiduciary duties to Comcast, and whether Comcast and its shareholders have suffered damages as a result.
On April 23, 2023, Comcast announced that Jeff Shell, Chief Executive Officer of Comcast subsidiary NBCUniversal, was leaving his post effective immediately after an investigation into inappropriate workplace behavior.
COMCAST INVESTORS WHO CURRENTLY HOLD CMCSA STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR COMCAST STOCK.
CURRENT SHAREHOLDERS OF COMCAST STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
May 2, 2023 | Blog, Shareholder Investigations
Investors of Icahn Enterprises Stock Who Have Suffered Losses of $100,000 or More Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Icahn Enterprises L.P. (“Icahn Enterprises”) (NASDAQ: IEP).
INVESTORS OF ICAHN ENTERPRISES STOCK WHO HAVE SUFFERED FINANCIAL LOSSES OF $100,000 OR MORE ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR ICAHN ENTERPRISES SECURITIES.
Investors should be aware that Yahoo! Finance published a news report by The Telegraph that “Carl Icahn, one of Wall Street’s best-known activist investors, has become the target of a short-seller which has accused the billionaire of inflating the value of his empire.”
The Telegraph also reported that “Hindenburg Research accused the hedge fund manager of operating a ‘[P]onzi-like economic structure’ through his $15bn fund, Icahn Enterprises, and claimed its value had been inflated by at least 75pc.”
Shares of Icahn Enterprises stock were down more than 25% during intraday trading on May 2, 2023.
SHAREHOLDERS OF ICAHN ENTERPRISES WHO SUFFERED LOSSES OF $100,000 OR MORE ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
