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BUYOUT INVESTIGATION NOTICE: Kaskela Law LLC Announces Investigation of Sterling Check Corp. (STER) Buyout and Encourages Investors to Contact the Firm
On February 29, 2024, Sterling announced that it had agreed to be acquired by First Advantage Corp. ("First Advantage"). Under the terms of the proposed agreement, Sterling stockholders are expected to receive either: (i) $16.73 per share in cash or (ii) 0.979 shares of First Advantage common stock for each Sterling share they own.
Although the press release disclosing the proposed transaction reported that "[t]he $16.73 per share consideration represents a premium of 35% to Sterling's closing price of $12.42 on February 28, 2024," the $16.73 per share consideration is significantly lower than the $25.00 per share that Sterling's shares traded at less than two years ago.
The investigation seeks to determine whether Sterling's officers and/or directors breached their fiduciary duties or violated the securities laws in agreeing to sell the company to First Advantage at a $16.73 per share valuation.
Sterling shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750 or (888) 715 - 1740, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/sterling-check-corp/ , to receive additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
This notice may constitute attorney advertising in certain jurisdictions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509813755/en/
SOURCE: Kaskela Law LLC"><Property FormalName="PrimaryTwitterHandle" Value="@Kaskela_Law
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KASKELA LAW LLC D. Seamus Kaskela, Esq. Adrienne Bell, Esq. 18 Campus Blvd., Suite 100 Newtown Square, PA 19073 (888) 715 - 1740 (484) 229 - 0750 www.kaskelalaw.com
COMTEX_452114195/1006/2024-05-09T08:01:01