BALA CYNWYD, Penn., Aug. 10, 2023 (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.

Capri Holdings Limited (NYSE – CPRI)

Under the terms of the agreement, Capri Holdings will be acquired by Tapestry, Inc. (NYSE - TPR). Under the terms of the Agreement, Capri Holdings shareholders will receive $57.00 per share in cash for a total enterprise value of approximately $8.5 billion. The investigation concerns whether the Capri Holdings Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in Tapestry paying less than full value for the Company. For example, the deal consideration is less than the 52-week high of $69.25 for the Company’s shares.

Additional information can be found at https://www.brodskysmith.com/cases/capri-holdings-limited-nyse-cpri/. 

Avid® (Nasdaq - AVID)

Under the terms of the Merger Agreement, Avid will be acquired by an affiliate of STG in an all-cash transaction valuing Avid at approximately $1.4 billion, inclusive of Avid’s net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock. The investigation concerns whether the Avid Board breached its fiduciary duties to shareholders by failing to conduct a fair process resulting in STG paying less than full value for the Company. For example, the deal consideration is less than the 52-week high of $33.41 for the Company’s shares.

Additional information can be found at https://www.brodskysmith.com/cases/14652/. 

EQRx, Inc. (Nasdaq - EQRX)

Under the terms of the Agreement, EQRx will merge with Revolution Medicines, Inc. (Nasdaq – RVMD). At closing, EQRx stockholders will receive the number of shares of Revolution Medicines stock equal to the sum of ~7.69M Revolution Medicines shares plus a number of shares equal to $870M divided by a price that is a 6% discount to the 5-day volume-weighted average Revolution Medicines share price measured in close proximity to the stockholder vote. The investigation concerns whether the EQRx Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal provides fair value to EQRx shareholders.

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

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.