Halper Sadeh LLC, an investor rights law firm, announced an investigation into whether the sale of BGSF, Inc.’s Professional Division to INSPYR Solutions for $99 million is fair to BGSF shareholders. The investigation concerns potential violations of federal securities laws and breaches of fiduciary duties by BGSF and its board of directors.
The law firm's concerns include whether BGSF failed to obtain the best possible consideration for its shareholders and if INSPYR is underpaying for the division. Additionally, the investigation will assess whether all material information necessary for shareholders to adequately assess and value the merger consideration was disclosed.
On behalf of BGSF shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures, or other relief and benefits. This investigation introduces a layer of uncertainty regarding the final terms and implications of the announced divestiture.
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