BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Cornerstone Building Brands, Inc. (NYSE - CNR), Cedar Realty Trust, Inc. (NYSE - CDR), Prudential Bancorp, Inc. (Nasdaq - PBIP), Provident Acquisition Corp. (Nasdaq - PAQC)

Monday, 07. March 2022 17:41

BALA CYNWYD, Pa., March 07, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

Cornerstone Building Brands, Inc. (NYSE - CNR)   

Under the terms of the agreement, Cornerstone will be acquired by affiliates of Clayton, Dubilier & Rice (“CD&R”). Cornerstone shareholders will receive $24.65 in cash for each share of Cornerstone Realty common stock that they hold in an all-cash transaction with an enterprise value of approximately $5.8 billion, including the assumption of debt. The investigation concerns whether the Cornerstone Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether CD&R is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/cornerstone-building-brands-inc-nyse-cnr/.

Cedar Realty Trust, Inc. (NYSE - CDR)

Under the terms of the agreement, Cedar will be acquired by Wheeler Real Estate Investment Trust, Inc. (“Wheeler”) (Nasdaq - WHLR). Cedar shareholders will receive $29.00 in cash for each share of Cedar Realty common stock that they hold. The investigation concerns whether the Cedar Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Wheeler is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/cedar-realty-trust-inc-nyse-cdr/.  

Prudential Bancorp, Inc. (Nasdaq - PBIP)

Under the terms of the agreement, Prudential will be acquired by Fulton Financial Corporation (“Fulton”) (Nasdaq - FULT). Under the terms of the Merger Agreement, Prudential shareholders will receive 0.7974 Fulton shares and $3.65 in cash for each Prudential share they own. The implied value of the transaction is $18.01 per Prudential common share. The investigation concerns whether the Prudential Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Fulton is paying too little for the Company.

Additional information can be found at https://www.brodskysmith.com/cases/prudential-bancorp-inc-nasdaq-pbip/.

Provident Acquisition Corp. (Nasdaq - PAQC)

Under the terms of the agreement, Provident, a special purpose acquisition company, will combine with Perfect Corp. (“Perfect”), a global leader in providing augmented reality (“AR”) and artificial intelligence (“AI”) Software-as-a-Service (“SaaS”) solutions to beauty and fashion industries. Under the terms of the agreement, Provident shareholders will retain ownership of only 20% of the combined company. The investigation concerns whether the Provident Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.

Additional information can be found at https://www.brodskysmith.com/cases/provident-acquisition-corp-nasdaq-paqc/.

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.


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