Radnor, Pennsylvania--(Newsfile Corp. - June 1, 2023) - The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is investigating whether the members of the board of directors of Franchise Group, Inc. ("Franchise Group") (NASDAQ: FRG) breached their fiduciary duties in connection with the proposed sale of the company to members of Franchise Group's senior management team.
On May 10, 2023, Franchise Group announced that it would be acquired by Freedom VCM, Inc., an investment consortium that includes Franchise Group's CEO, at a price of $30.00 per share - less than a 4% premium to the stock's closing price the prior day. Following the closing of the proposed transaction, Franchise Group investors will be cashed out of their investment position and the company's shares will no longer be publicly traded.
If you are a current Franchise Group shareholder and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at [email protected]. You can also click on the following link or paste it in your browser: https://www.ktmc.com/franchise-group-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=frg&mktm=r
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
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Original Source of the original story >> Franchise Group Investigation Announcement: Kessler Topaz Meltzer & Check, LLP is Investigating Claims on Behalf of Franchise Group, Inc. (FRG) Current Shareholders